International Flavors & Fragrances (NYSE:IFF) Stock Gets Price Target Boost from Citigroup

International Flavors & Fragrances (NYSE:IFF) had its target price upped by equities researchers at Citigroup from $100.00 to $105.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup‘s price objective suggests a potential upside of 26.85% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their target price on shares of International Flavors & Fragrances from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Benchmark boosted their price target on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. KeyCorp began coverage on shares of International Flavors & Fragrances in a research note on Thursday, September 10th. They set a “sector weight” rating for the company. Weiss Ratings upgraded shares of International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Zacks Research raised shares of International Flavors & Fragrances from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.05.

International Flavors & Fragrances Price Performance

NYSE IFF traded down $3.58 during mid-day trading on Thursday, hitting $82.78. The stock had a trading volume of 2,893,580 shares, compared to its average volume of 2,192,094. The firm’s 50 day moving average is $87.09 and its 200 day moving average is $78.98. International Flavors & Fragrances has a twelve month low of $61.72 and a twelve month high of $95.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The stock has a market capitalization of $21.12 billion, a price-to-earnings ratio of 116.58, a PEG ratio of 4.06 and a beta of 0.86.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, November 3rd. The specialty chemicals company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts forecast that International Flavors & Fragrances will post 3.23 earnings per share for the current fiscal year.

International Flavors & Fragrances declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 4th that permits the company to buy back $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire up to 12.1% of its stock through open market purchases. Share buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $83.19, for a total value of $475,680.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On International Flavors & Fragrances

Institutional investors have recently bought and sold shares of the company. First Command Advisory Services Inc. boosted its holdings in International Flavors & Fragrances by 155.5% in the 3rd quarter. First Command Advisory Services Inc. now owns 396 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of International Flavors & Fragrances by 97.9% during the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 274 shares during the last quarter. Heritage Family Offices LLP acquired a new stake in shares of International Flavors & Fragrances during the 3rd quarter worth approximately $54,000. Parkside Financial Bank & Trust raised its position in shares of International Flavors & Fragrances by 27.9% during the 2nd 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. Finally, Westpac Banking Corp purchased a new stake in shares of International Flavors & Fragrances during the 2nd quarter valued at approximately $91,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting International Flavors & Fragrances

Here are the key news stories impacting International Flavors & Fragrances this week:

• Positive Sentiment: Citigroup raised its price target to $105 from $100 and reiterated “buy,” while JPMorgan lifted its target to $95 from $92 and maintained “overweight.” Citigroup coverage JPMorgan coverage
• Positive Sentiment: Barclays lowered its target slightly, from $105 to $103, but retained its “overweight” rating, signaling continued confidence in potential upside. Barclays recommendations
• Neutral Sentiment: UBS raised its price target from $91 to $95 but kept a “neutral” rating. UBS coverage
• Neutral Sentiment: IFF’s latest reported quarter beat estimates, with earnings of $0.83 per share versus $0.81 expected and revenue of $1.94 billion versus $1.91 billion expected. However, earnings were below the year-ago quarter’s $1.05 per share. Earnings analysis
• Negative Sentiment: Bank of America downgraded IFF from “buy” to “underperform,” despite setting a $91 price target. The rating change is the clearest negative catalyst among the recent analyst updates. Bank of America recommendations

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.