Zacks Investment Research upgraded shares of International Flavors & Fragrances (NYSE:IFF) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The brokerage currently has $175.00 price objective on the specialty chemicals company’s stock.
According to Zacks, “In the last three months, International Flavors & Fragrances' shares have outperformed the industry. We believe the company will gain from growing demand for flavors and fragrances, strengthening its foothold in emerging markets and from innovation of new and improved products going forward. It will also benefit from its multi-year productivity program, enabling it to check costs, make strategic investments and expand businesses globally. For 2017 (results not yet released), the company expects net sales to grow 7.5-8.5% on a currency neutral basis while predicts earnings per share to increase 6.5-7.5%. Earnings estimates on the stock improved for 2018 in the last 60 days.”
A number of other analysts also recently weighed in on the stock. Berenberg Bank reissued a buy rating and set a $160.00 target price on shares of International Flavors & Fragrances in a research report on Friday, November 10th. UBS Group reissued a buy rating and set a $166.00 target price (up previously from $151.00) on shares of International Flavors & Fragrances in a research report on Tuesday, November 7th. Finally, KeyCorp increased their target price on shares of International Flavors & Fragrances from $148.00 to $156.00 and gave the company an overweight rating in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $147.50.
International Flavors & Fragrances (IFF) traded up $0.17 during trading hours on Tuesday, reaching $153.70. 366,703 shares of the company’s stock were exchanged, compared to its average volume of 221,792. The firm has a market cap of $12,125.36, a P/E ratio of 29.44, a PEG ratio of 2.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.66 and a quick ratio of 1.77. International Flavors & Fragrances has a twelve month low of $114.81 and a twelve month high of $157.22.
International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Monday, November 6th. The specialty chemicals company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $872.90 million during the quarter, compared to the consensus estimate of $847.63 million. International Flavors & Fragrances had a net margin of 12.57% and a return on equity of 27.13%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 EPS. research analysts expect that International Flavors & Fragrances will post 5.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Friday, December 29th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, December 28th. International Flavors & Fragrances’s payout ratio is 52.87%.
In other International Flavors & Fragrances news, EVP Anne Chwat sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $149.61, for a total transaction of $448,830.00. Following the transaction, the executive vice president now directly owns 39,157 shares in the company, valued at approximately $5,858,278.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. YorkBridge Wealth Partners LLC boosted its holdings in shares of International Flavors & Fragrances by 5.7% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 764 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 41 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in shares of International Flavors & Fragrances during the 3rd quarter worth approximately $118,000. D.A. Davidson & CO. boosted its holdings in shares of International Flavors & Fragrances by 0.5% during the 2nd quarter. D.A. Davidson & CO. now owns 1,073 shares of the specialty chemicals company’s stock worth $144,000 after buying an additional 5 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in shares of International Flavors & Fragrances by 6.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,276 shares of the specialty chemicals company’s stock worth $171,000 after buying an additional 76 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new position in shares of International Flavors & Fragrances during the 2nd quarter worth approximately $189,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.
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International Flavors & Fragrances Company Profile
International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.
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