Oppenheimer Forecasts Strong Price Appreciation for International Flavors & Fragrances (NYSE:IFF) Stock

Key Points

• Oppenheimer raised its price target on IFF from $88 to $90 and kept an "outperform" rating, implying roughly a 12.75% upside from the prior close.
• Analyst consensus is a Moderate Buy with an average price target of $89.18 (12 Buys, 4 Holds, 1 Sell), while individual targets range roughly from $75 to $95.
• IFF beat Q1 estimates (EPS $1.25 vs. $1.08 est.; revenue $2.74B vs. $2.64B) despite revenue falling 3.6% YoY, and director Paul J. Fribourg purchased 142,000 shares (~$9.96M), increasing his stake.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its price objective lifted by research analysts at Oppenheimer from $88.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the specialty chemicals company's stock. Oppenheimer's target price would indicate a potential upside of 12.75% from the company's previous close.

IFF has been the subject of a number of other reports. Citigroup decreased their target price on shares of International Flavors & Fragrances from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 13th. UBS Group lowered their target price on International Flavors & Fragrances from $85.00 to $75.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Berenberg Bank cut their price target on International Flavors & Fragrances from $78.30 to $77.50 and set a "hold" rating for the company in a research note on Thursday, February 5th. Argus raised their price objective on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of International Flavors & Fragrances from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and an average price target of $89.18.

International Flavors & Fragrances Trading Down 3.8%

Shares of IFF traded down $3.11 during trading hours on Thursday, reaching $79.82. 118,054 shares of the company traded hands, compared to its average volume of 1,734,937. The company's fifty day moving average price is $72.79 and its two-hundred day moving average price is $70.28. International Flavors & Fragrances has a 12 month low of $59.14 and a 12 month high of $84.45. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.91 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.64 billion. International Flavors & Fragrances had a return on equity of 7.63% and a net margin of 7.78%.International Flavors & Fragrances's revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. Equities research analysts predict that International Flavors & Fragrances will post 4.42 earnings per share for the current fiscal year.

Insider Buying and Selling at International Flavors & Fragrances

In related news, Director Paul J. Fribourg purchased 142,000 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $70.13 per share, for a total transaction of $9,958,460.00. Following the acquisition, the director owned 2,422,730 shares of the company's stock, valued at approximately $169,906,054.90. This represents a 6.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.07% of the company's stock.

Institutional Trading of International Flavors & Fragrances

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IFF. Invesco Ltd. lifted its position in shares of International Flavors & Fragrances by 131.3% during the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company's stock worth $441,068,000 after purchasing an additional 4,069,075 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in International Flavors & Fragrances in the 4th quarter valued at about $211,703,000. Ameriprise Financial Inc. raised its stake in shares of International Flavors & Fragrances by 1,842.0% during the second quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company's stock valued at $183,264,000 after acquiring an additional 2,363,307 shares in the last quarter. Dodge & Cox grew its stake in International Flavors & Fragrances by 5.5% in the third quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company's stock worth $2,275,296,000 after purchasing an additional 1,925,251 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in International Flavors & Fragrances by 27.5% during the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company's stock worth $595,166,000 after purchasing an additional 1,904,598 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

About International Flavors & Fragrances

International Flavors & Fragrances Inc NYSE: IFF is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF's research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.