Bank of America Raises International Flavors & Fragrances (NYSE:IFF) Price Target to $99.00

International Flavors & Fragrances (NYSE:IFF - Free Report) had its price target raised by Bank of America from $87.00 to $99.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the specialty chemicals company's stock.

A number of other research analysts also recently issued reports on IFF. Mizuho boosted their price objective on International Flavors & Fragrances from $91.00 to $98.00 and gave the company a neutral rating in a research note on Tuesday. Barclays raised their price objective on shares of International Flavors & Fragrances from $82.00 to $93.00 and gave the stock an equal weight rating in a research report on Wednesday. Jefferies Financial Group upgraded shares of International Flavors & Fragrances from a hold rating to a buy rating and boosted their target price for the company from $73.00 to $112.00 in a research report on Friday, January 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, UBS Group raised their target price on International Flavors & Fragrances from $78.00 to $82.00 and gave the company a neutral rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of Hold and an average target price of $94.18.

International Flavors & Fragrances Trading Up 0.1 %

IFF traded up $0.12 during midday trading on Friday, hitting $97.18. 1,604,523 shares of the company were exchanged, compared to its average volume of 1,424,117. The firm has a market capitalization of $24.81 billion, a P/E ratio of -9.95, a P/E/G ratio of 1.98 and a beta of 1.21. The firm's 50 day moving average price is $84.58 and its 200-day moving average price is $79.77. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.63. International Flavors & Fragrances has a 1-year low of $62.11 and a 1-year high of $98.08.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.86 by $0.27. The business had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.78 billion. International Flavors & Fragrances had a positive return on equity of 5.59% and a negative net margin of 22.01%. The firm's revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. As a group, equities analysts forecast that International Flavors & Fragrances will post 3.68 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.60 annualized dividend and a yield of 1.65%. International Flavors & Fragrances's dividend payout ratio is currently -16.38%.

Institutional Trading of International Flavors & Fragrances

A number of large investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC lifted its position in shares of International Flavors & Fragrances by 24.2% during the 1st quarter. Intech Investment Management LLC now owns 11,434 shares of the specialty chemicals company's stock valued at $983,000 after buying an additional 2,228 shares during the last quarter. Wintrust Investments LLC lifted its holdings in International Flavors & Fragrances by 12.7% during the first quarter. Wintrust Investments LLC now owns 17,490 shares of the specialty chemicals company's stock valued at $1,504,000 after purchasing an additional 1,970 shares during the last quarter. Searle & CO. boosted its position in International Flavors & Fragrances by 9.4% during the first quarter. Searle & CO. now owns 4,846 shares of the specialty chemicals company's stock worth $417,000 after purchasing an additional 415 shares during the period. Dorsey & Whitney Trust CO LLC bought a new stake in shares of International Flavors & Fragrances in the first quarter valued at approximately $239,000. Finally, Wilkins Investment Counsel Inc. lifted its stake in shares of International Flavors & Fragrances by 32.6% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 193,869 shares of the specialty chemicals company's stock valued at $16,671,000 after buying an additional 47,712 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.