International Flavors & Fragrances (NYSE:IFF) Price Target Raised to $105.00

International Flavors & Fragrances (NYSE:IFF) had its price objective lifted by research analysts at Barclays from $96.00 to $105.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. Barclays‘s target price would suggest a potential upside of 16.59% from the company’s previous close.

Several other equities research analysts also recently weighed in on IFF. Benchmark raised their target price on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. UBS Group lifted their price target on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Morgan Stanley upped their price target on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Argus increased their price objective on International Flavors & Fragrances from $85.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Finally, Vertical Research cut International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.22.

International Flavors & Fragrances Stock Down 0.3%

Shares of IFF stock traded down $0.23 during mid-day trading on Friday, hitting $90.06. 992,230 shares of the stock traded hands, compared to its average volume of 1,813,375. International Flavors & Fragrances has a 52-week low of $61.29 and a 52-week high of $91.88. The stock has a market cap of $22.98 billion, a P/E ratio of 82.64, a P/E/G ratio of 3.47 and a beta of 0.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The stock’s fifty day moving average is $85.07 and its two-hundred day moving average is $79.10.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. Equities analysts predict that International Flavors & Fragrances will post 3.09 EPS for the current 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 buy back $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 12.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at International Flavors & Fragrances

In other news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Deveau sold 8,825 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value of $754,978.75. Following the completion of the transaction, the executive vice president directly owned 5,199 shares in the company, valued at approximately $444,774.45. The trade was a 62.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,543 shares of company stock worth $1,315,659. Company insiders own 1.07% of the company’s stock.

Institutional Trading of International Flavors & Fragrances

Several large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its stake in shares of International Flavors & Fragrances by 97.9% in the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 274 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in 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 during the last quarter. Westpac Banking Corp purchased a new stake in International Flavors & Fragrances in the second quarter valued at approximately $91,000. Mather Group LLC. increased its holdings in 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 buying an additional 270 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in International Flavors & Fragrances in the 2nd quarter worth approximately $148,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients and solutions used in food, beverages, personal care products, fragrances, household products, pharmaceuticals and other consumer goods. The company works with manufacturers to create flavors, fragrances, functional ingredients and sensory experiences for products sold under consumer brands.

IFF’s portfolio includes natural and synthetic flavor compounds, fragrance ingredients, specialty ingredients, food texturants, enzymes, cultures, probiotics and pharmaceutical excipients.