Oppenheimer Forecasts Strong Price Appreciation for International Flavors & Fragrances (NYSE:IFF) Stock

International Flavors & Fragrances (NYSE:IFF) had its price target boosted by investment analysts at Oppenheimer from $95.00 to $108.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Oppenheimer’s target price would indicate a potential upside of 15.81% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Weiss Ratings upgraded International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Vertical Research downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research note on Thursday, August 6th. Wall Street Zen lowered International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Argus lifted their price target on shares of International Flavors & Fragrances from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Finally, Benchmark boosted their price target on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, International Flavors & Fragrances has an average rating of “Moderate Buy” and an average target price of $94.28.

International Flavors & Fragrances Stock Performance

NYSE IFF traded up $2.22 during mid-day trading on Thursday, reaching $93.25. 419,394 shares of the stock were exchanged, compared to its average volume of 1,811,158. The company has a market capitalization of $23.79 billion, a P/E ratio of 85.25, a P/E/G ratio of 3.85 and a beta of 0.91. 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 business’s 50 day moving average is $85.55 and its 200-day moving average is $79.63. International Flavors & Fragrances has a 1 year low of $61.29 and a 1 year high of $92.82.

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 for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the company posted $1.15 EPS. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that International Flavors & Fragrances will post 3.29 EPS for the current fiscal year.

International Flavors & Fragrances declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 4th that permits the company to buy back $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CAO Marc Birenkrant sold 1,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the transaction, the chief accounting officer directly owned 3,446 shares in the company, valued at approximately $292,910. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,543 shares of company stock valued at $1,315,659 in the last 90 days. 1.07% of the stock is owned by insiders.

Institutional Investors Weigh In On International Flavors & Fragrances

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC lifted its position in International Flavors & Fragrances by 97.9% during the first 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 grew its holdings in International Flavors & Fragrances by 27.9% in the 2nd 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. Westpac Banking Corp acquired a new stake in shares of International Flavors & Fragrances in the 2nd quarter worth $91,000. Mather Group LLC. increased its stake in shares of International Flavors & Fragrances by 24.0% in the 3rd quarter. Mather Group LLC. now owns 1,393 shares of the specialty chemicals company’s stock worth $116,000 after acquiring an additional 270 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of International Flavors & Fragrances during the 2nd quarter worth $148,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

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.