Barclays Increases International Flavors & Fragrances (NYSE:IFF) Price Target to $93.00

International Flavors & Fragrances (NYSE:IFF) had its price target hoisted by Barclays from $82.00 to $93.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company’s stock.

IFF has been the subject of a number of other research reports. UBS Group raised their price target on shares of International Flavors & Fragrances from $78.00 to $82.00 and gave the stock a neutral rating in a research note on Thursday, January 11th. Argus lowered shares of International Flavors & Fragrances from a buy rating to a hold rating in a report on Friday, March 8th. JPMorgan Chase & Co. raised shares of International Flavors & Fragrances from a neutral rating to an overweight rating and raised their price objective for the stock from $75.00 to $100.00 in a report on Wednesday. Jefferies Financial Group raised shares of International Flavors & Fragrances from a hold rating to a buy rating and raised their price objective for the stock from $73.00 to $112.00 in a report on Friday, January 12th. Finally, Citigroup raised their price objective on shares of International Flavors & Fragrances from $100.00 to $108.00 and gave the stock a buy rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, International Flavors & Fragrances has an average rating of Hold and an average target price of $93.18.

International Flavors & Fragrances Stock Performance

IFF stock traded down $0.18 during mid-day trading on Wednesday, reaching $97.05. 1,640,373 shares of the stock traded hands, compared to its average volume of 2,130,036. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.63. International Flavors & Fragrances has a 52 week low of $62.11 and a 52 week high of $97.48. The business has a 50-day moving average of $83.72 and a two-hundred day moving average of $79.43. The firm has a market capitalization of $24.78 billion, a PE ratio of -9.67, a P/E/G ratio of 1.94 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.27. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the company earned $0.87 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. As a group, equities analysts predict that International Flavors & Fragrances will post 3.68 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.60 annualized dividend and a yield of 1.65%. International Flavors & Fragrances’s dividend payout ratio is currently -15.94%.

Hedge Funds Weigh In On International Flavors & Fragrances

Several hedge funds have recently made changes to their positions in IFF. Blue Bell Private Wealth Management LLC grew its position in International Flavors & Fragrances by 3,000.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Riverview Trust Co bought a new position in shares of International Flavors & Fragrances in the 1st quarter valued at about $27,000. Quent Capital LLC increased its position in shares of International Flavors & Fragrances by 183.2% in the first quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 240 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in International Flavors & Fragrances during the fourth quarter valued at approximately $41,000. Finally, Principal Securities Inc. bought a new position in International Flavors & Fragrances in the fourth quarter valued at approximately $43,000. 96.02% of the stock is owned by institutional investors.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.