International Flavors & Fragrances (NYSE:IFF) Raised to Hold at Wall Street Zen

International Flavors & Fragrances (NYSE:IFF) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. KeyCorp initiated coverage on International Flavors & Fragrances in a research report on Thursday, September 10th. They set a “sector weight” rating for the company. Weiss Ratings upgraded International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Morgan Stanley increased their price target on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Vertical Research cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Thursday, August 6th. Finally, Argus raised their price target on shares of International Flavors & Fragrances from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.28.

International Flavors & Fragrances Price Performance

IFF opened at $93.64 on Friday. The stock has a fifty day moving average of $86.09 and a 200-day moving average of $78.06. The firm has a market capitalization of $23.89 billion, a P/E ratio of 85.91, a PEG ratio of 4.04 and a beta of 0.91. International Flavors & Fragrances has a 12-month low of $61.29 and a 12-month high of $94.65. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 EPS. Equities analysts forecast that International Flavors & Fragrances will post 3.24 EPS for the current fiscal year.

International Flavors & Fragrances announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 4th that permits the company to repurchase $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to buy up to 12.1% of its shares through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the transaction, the chief accounting officer directly owned 3,446 shares of the company’s stock, valued at $292,910. This represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 15,543 shares of company stock valued at $1,315,659. Insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On International Flavors & Fragrances

Several large investors have recently made changes to their positions in IFF. Korea Investment CORP bought a new stake in International Flavors & Fragrances in the second quarter worth approximately $3,170,000. QRG Capital Management Inc. increased its stake in shares of International Flavors & Fragrances by 815.7% during the 2nd quarter. QRG Capital Management Inc. now owns 35,485 shares of the specialty chemicals company’s stock worth $2,811,000 after purchasing an additional 31,610 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of International Flavors & Fragrances during the 2nd quarter worth $3,203,000. Murphy Pohlad Asset Management LLC bought a new position in shares of International Flavors & Fragrances during the 2nd quarter valued at $1,481,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of International Flavors & Fragrances during the 1st quarter valued at $950,000. 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.