International Flavors & Fragrances (NYSE:IFF) Upgraded at Oppenheimer

International Flavors & Fragrances (NYSE:IFF) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued on Friday, MarketBeat reports. The firm presently has a $97.00 target price on the specialty chemicals company’s stock. Oppenheimer’s price target would indicate a potential upside of 18.87% from the stock’s previous close.

Several other analysts have also recently commented on the company. Mizuho upped their target price on International Flavors & Fragrances from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America increased their price objective on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Barclays upped their price target on shares of International Flavors & Fragrances from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of International Flavors & Fragrances in a research report on Monday, December 29th. Finally, Citigroup upped their target price on International Flavors & Fragrances from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.53.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $81.60 on Friday. The business’s 50-day moving average price is $69.36 and its 200-day moving average price is $66.64. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances has a 12 month low of $59.14 and a 12 month high of $86.96. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of -59.56, a PEG ratio of 2.91 and a beta of 1.05.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.05). International Flavors & Fragrances had a positive return on equity of 7.70% and a negative net margin of 3.20%.The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts forecast that International Flavors & Fragrances will post 4.32 EPS for the current year.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in shares of International Flavors & Fragrances by 32.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 111,431 shares of the specialty chemicals company’s stock valued at $8,367,000 after buying an additional 27,166 shares during the last quarter. Ruffer LLP bought a new stake in shares of International Flavors & Fragrances in the 3rd quarter worth $13,552,000. Clarkston Capital Partners LLC purchased a new stake in shares of International Flavors & Fragrances in the second quarter valued at about $11,939,000. Creative Planning lifted its position in shares of International Flavors & Fragrances by 347.5% during the second quarter. Creative Planning now owns 85,345 shares of the specialty chemicals company’s stock valued at $6,277,000 after purchasing an additional 66,273 shares in the last quarter. Finally, State Street Corp grew its position in International Flavors & Fragrances by 3.6% in the 2nd quarter. State Street Corp now owns 10,884,974 shares of the specialty chemicals company’s stock worth $804,753,000 after purchasing an additional 381,593 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.