Argus Issues Positive Forecast for International Flavors & Fragrances (NYSE:IFF) Stock Price

International Flavors & Fragrances (NYSE:IFF) had its target price increased by investment analysts at Argus from $85.00 to $95.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Argus’ price objective would suggest a potential upside of 13.11% from the stock’s previous close.

A number of other brokerages have also weighed in on IFF. Zacks Research upgraded International Flavors & Fragrances from a “strong sell” rating to a “hold” rating in a research note on Monday, September 21st. Citigroup decreased their price objective on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Wall Street Zen upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. KeyCorp assumed coverage on International Flavors & Fragrances in a report on Thursday, September 10th. They set a “sector weight” rating for the company. Finally, Morgan Stanley boosted their target price on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.99.

International Flavors & Fragrances Stock Up 0.9%

Shares of IFF opened at $83.99 on Wednesday. International Flavors & Fragrances has a 52 week low of $59.14 and a 52 week high of $89.32. The firm has a market cap of $21.43 billion, a P/E ratio of 77.06, a price-to-earnings-growth ratio of 3.24 and a beta of 0.91. The firm’s 50-day simple moving average is $84.39 and its 200 day simple moving average is $78.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.25). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business earned $1.15 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, analysts forecast that International Flavors & Fragrances will post 3.08 earnings per share for the current year.

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

Insider Buying and Selling at International Flavors & Fragrances

In other news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Deveau sold 8,825 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the sale, the executive vice president directly owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,543 shares of company stock valued at $1,315,659 in the last ninety days. 1.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Flavors & Fragrances

Several hedge funds and other institutional investors have recently modified their holdings of the business. Root Financial Partners LLC raised 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 in the last quarter. Parkside Financial Bank & Trust lifted 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 worth $56,000 after buying an additional 154 shares during the last quarter. Westpac Banking Corp acquired a new stake in International Flavors & Fragrances in the second quarter valued at about $91,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in International Flavors & Fragrances in the second quarter valued at about $148,000. Finally, Global Retirement Partners LLC acquired a new position in International Flavors & Fragrances during the second quarter worth about $157,000. 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 and solutions used in food, beverages, personal care products, fragrances, household products, pharmaceuticals and other consumer goods. The company works with manufacturers to create flavors, fragrances, functional ingredients and sensory experiences for products sold under consumer brands.

IFF’s portfolio includes natural and synthetic flavor compounds, fragrance ingredients, specialty ingredients, food texturants, enzymes, cultures, probiotics and pharmaceutical excipients.