International Flavors & Fragrances (NYSE:IFF) Raised to Hold at Zacks Research

International Flavors & Fragrances (NYSE:IFF) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Several other brokerages have also issued reports on IFF. UBS Group boosted their price objective on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Barclays lifted their price target on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Argus upped their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Weiss Ratings downgraded shares of International Flavors & Fragrances from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

International Flavors & Fragrances Stock Up 2.7%

Shares of IFF opened at $85.83 on Monday. International Flavors & Fragrances has a 52-week low of $59.14 and a 52-week high of $89.32. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $82.84 and a two-hundred day simple moving average of $77.31. The company has a market capitalization of $21.90 billion, a PE ratio of 78.75, a price-to-earnings-growth ratio of 3.25 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts forecast that International Flavors & Fragrances will post 3.08 EPS for the current year.

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

Insiders Place Their Bets

In other International Flavors & Fragrances news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $83.19, for a total value of $475,680.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Deveau sold 8,825 shares of International Flavors & Fragrances stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the sale, the executive vice president directly owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,543 shares of company stock worth $1,315,659 in the last 90 days. Corporate insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On International Flavors & Fragrances

Hedge funds and other institutional investors have recently made changes to their positions in the business. Studio Investment Management LLC grew its position in International Flavors & Fragrances by 3.7% in the 2nd quarter. Studio Investment Management LLC now owns 3,916 shares of the specialty chemicals company’s stock worth $312,000 after purchasing an additional 138 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of 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 worth $56,000 after buying an additional 154 shares during the last quarter. Waverly Advisors LLC grew its holdings 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 acquiring an additional 156 shares in the last quarter. HB Wealth Management LLC increased its position in shares of International Flavors & Fragrances by 2.8% during the second quarter. HB Wealth Management LLC now owns 6,272 shares of the specialty chemicals company’s stock valued at $497,000 after acquiring an additional 171 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in International Flavors & Fragrances by 6.3% in the first quarter. QRG Capital Management Inc. now owns 3,875 shares of the specialty chemicals company’s stock worth $281,000 after purchasing an additional 228 shares during the last quarter. 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 related solutions used in consumer and industrial products. Its offerings help customers create or enhance the taste, aroma, texture, appearance and performance of products across the food, beverage, personal care, home care, health and pharmaceutical markets.

IFF’s business includes natural and synthetic flavor compounds, fragrance ingredients and compositions, cosmetic and personal-care ingredients, specialty food ingredients, enzymes, cultures, probiotics and other bioscience-based solutions.