International Flavors & Fragrances (NYSE:IFF) Given New $88.00 Price Target at Oppenheimer

International Flavors & Fragrances (NYSE:IFF) had its price target cut by research analysts at Oppenheimer from $97.00 to $88.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Oppenheimer’s target price points to a potential upside of 21.97% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Argus lifted their target price on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of International Flavors & Fragrances in a research report on Monday, December 29th. Citigroup dropped their target price on shares of International Flavors & Fragrances from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft lifted their target price 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. Finally, Mizuho lifted their target price on shares of International Flavors & Fragrances from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

International Flavors & Fragrances Price Performance

Shares of IFF traded down $0.27 during mid-day trading on Wednesday, hitting $72.15. The company’s stock had a trading volume of 70,069 shares, compared to its average volume of 1,742,683. The firm has a 50-day moving average price of $74.55 and a 200 day moving average price of $69.58. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of -52.55, a PEG ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.42 and a quick ratio of 0.85. International Flavors & Fragrances has a fifty-two week low of $59.14 and a fifty-two week high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.05). The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.52 billion. International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.The business’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $0.97 earnings per share. On average, research analysts predict that International Flavors & Fragrances will post 4.45 EPS for the current fiscal year.

Insider Activity 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 stock was acquired at an average cost of $70.13 per share, for a total transaction of $9,958,460.00. Following the completion of the acquisition, the director owned 2,422,730 shares in the company, valued at $169,906,054.90. This trade represents a 6.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.07% of the company’s stock.

Institutional Trading of International Flavors & Fragrances

A number of institutional investors have recently added to or reduced their stakes in the business. Dodge & Cox lifted 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 valued at $2,275,296,000 after acquiring an additional 1,925,251 shares during the last quarter. Vanguard Group Inc. lifted its stake in International Flavors & Fragrances by 0.8% in the third quarter. Vanguard Group Inc. now owns 31,133,186 shares of the specialty chemicals company’s stock valued at $1,915,936,000 after acquiring an additional 252,983 shares during the last quarter. State Street Corp lifted its stake in International Flavors & Fragrances by 1.1% in the fourth quarter. State Street Corp now owns 11,092,368 shares of the specialty chemicals company’s stock valued at $751,875,000 after acquiring an additional 121,260 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in International Flavors & Fragrances by 27.5% in the fourth quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock valued at $595,166,000 after acquiring an additional 1,904,598 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in International Flavors & Fragrances by 4.9% in the fourth quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock valued at $506,760,000 after acquiring an additional 352,636 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Company Profile

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.