International Flavors & Fragrances (NYSE:IFF) Stock Rating Cut to Underperform at Bank of America

International Flavors & Fragrances (NYSE:IFF) was downgraded by equities researchers at Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Friday, Marketbeat reports. They currently have a $91.00 target price on the specialty chemicals company’s stock. Bank of America‘s price target would indicate a potential upside of 5.16% from the stock’s previous close.

IFF has been the subject of several other reports. Vertical Research downgraded shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research report on Thursday, August 6th. Wall Street Zen raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday, October 25th. Benchmark raised their price target on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on International Flavors & Fragrances from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Argus boosted their price objective on International Flavors & Fragrances from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and an average target price of $95.16.

International Flavors & Fragrances Stock Performance

NYSE IFF opened at $86.54 on Friday. The company has a market cap of $22.08 billion, a P/E ratio of 121.88, a PEG ratio of 3.76 and a beta of 0.86. The company has a fifty day simple moving average of $87.17 and a 200 day simple moving average of $78.92. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.36. International Flavors & Fragrances has a 12-month low of $61.72 and a 12-month high of $95.27.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, November 3rd. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. International Flavors & Fragrances had a net margin of 1.97% and a return on equity of 6.82%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts predict that International Flavors & Fragrances will post 3.24 earnings per share for the current fiscal year.

International Flavors & Fragrances announced that its Board of Directors has approved a share buyback plan on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to purchase up to 12.1% of its shares through open market purchases. Share buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at International Flavors & Fragrances

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction on Monday, August 17th. The stock was sold at an average price of $83.19, for a total transaction of $475,680.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Studio Investment Management LLC raised its stake in shares of International Flavors & Fragrances by 3.7% during the 2nd quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock worth $312,000 after purchasing an additional 138 shares during the period. Parkside Financial Bank & Trust grew its position in International Flavors & Fragrances by 27.9% during the second quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock valued at $56,000 after buying an additional 154 shares during the period. Waverly Advisors LLC grew its position in International Flavors & Fragrances by 4.2% during the second quarter. Waverly Advisors LLC now owns 3,850 shares of the specialty chemicals company’s stock valued at $305,000 after buying an additional 156 shares during the period. HB Wealth Management LLC increased its holdings in International Flavors & Fragrances by 2.8% during the second quarter. HB Wealth Management LLC now owns 6,272 shares of the specialty chemicals company’s stock worth $497,000 after buying an additional 171 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in International Flavors & Fragrances by 2.5% during the third quarter. Chicago Partners Investment Group LLC now owns 8,473 shares of the specialty chemicals company’s stock worth $798,000 after buying an additional 207 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company’s portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.