JPMorgan Chase & Co. Forecasts Strong Price Appreciation for International Flavors & Fragrances (NYSE:IFF) Stock

International Flavors & Fragrances (NYSE:IFF) had its target price raised by investment analysts at JPMorgan Chase & Co. from $92.00 to $95.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 9.78% from the stock’s current price.

Other analysts have also recently issued reports about the company. Weiss Ratings raised International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Argus upped their price objective on International Flavors & Fragrances from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. KeyCorp started coverage on International Flavors & Fragrances in a research report on Thursday, September 10th. They issued a “sector weight” rating for the company. Zacks Research upgraded International Flavors & Fragrances from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Finally, UBS Group raised their target price on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

International Flavors & Fragrances Stock Performance

NYSE:IFF traded down $1.13 during mid-day trading on Thursday, reaching $86.54. The stock had a trading volume of 3,518,160 shares, compared to its average volume of 1,874,557. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 121.88, a PEG ratio of 3.96 and a beta of 0.86. International Flavors & Fragrances has a twelve month low of $61.72 and a twelve month high of $95.27. The business has a 50 day simple moving average of $87.19 and a 200 day simple moving average of $78.85.

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 6.72% and a net margin of 1.97%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect that International Flavors & Fragrances will post 3.24 earnings per share for the current fiscal year.

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

Insider Transactions at International Flavors & Fragrances

In other news, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Marc Birenkrant sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the sale, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. This trade represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On International Flavors & Fragrances

Several hedge funds and other institutional investors have recently bought and sold shares of IFF. Studio Investment Management LLC grew its holdings in International Flavors & Fragrances by 3.7% in the second quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock valued at $312,000 after purchasing an additional 138 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of International Flavors & Fragrances by 27.9% in the second 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 in the last quarter. Waverly Advisors LLC increased its position in shares of International Flavors & Fragrances by 4.2% in the second quarter. Waverly Advisors LLC now owns 3,850 shares of the specialty chemicals company’s stock valued at $305,000 after buying an additional 156 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of International Flavors & Fragrances by 2.8% during the 2nd quarter. HB Wealth Management LLC now owns 6,272 shares of the specialty chemicals company’s stock worth $497,000 after buying an additional 171 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of International Flavors & Fragrances by 2.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,473 shares of the specialty chemicals company’s stock worth $798,000 after buying an additional 207 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

About International Flavors & Fragrances

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.