International Flavors & Fragrances (NYSE:IFF) Price Target Cut to $77.50 by Analysts at Berenberg Bank

International Flavors & Fragrances (NYSE:IFF) had its target price reduced by Berenberg Bank from $78.30 to $77.50 in a report issued on Thursday morning,MarketScreener reports. They currently have a hold rating on the specialty chemicals company’s stock.

A number of other analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of International Flavors & Fragrances in a research report on Monday, December 29th. Bank of America boosted their price target on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Barclays lifted their target price on shares of International Flavors & Fragrances from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Wall Street Zen upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday, January 4th. Finally, Citigroup increased their price target on shares of International Flavors & Fragrances from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average price target of $86.41.

International Flavors & Fragrances Trading Up 2.1%

IFF opened at $74.95 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $68.58 and its two-hundred day moving average is $66.61. The company has a market capitalization of $19.19 billion, a P/E ratio of -46.27, a PEG ratio of 2.77 and a beta of 1.05. International Flavors & Fragrances has a 52 week low of $59.14 and a 52 week high of $86.96.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.03. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.65 billion. International Flavors & Fragrances had a positive return on equity of 8.03% and a negative net margin of 3.72%.The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period last year, the firm earned $1.04 EPS. Analysts forecast that International Flavors & Fragrances will post 4.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in shares of International Flavors & Fragrances by 32.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 111,431 shares of the specialty chemicals company’s stock valued at $8,367,000 after buying an additional 27,166 shares during the last quarter. Clarkston Capital Partners LLC purchased a new stake in International Flavors & Fragrances in the 2nd quarter worth approximately $11,939,000. Ruffer LLP purchased a new position in shares of International Flavors & Fragrances during the 3rd quarter valued at approximately $13,552,000. Creative Planning lifted its stake in shares of International Flavors & Fragrances by 347.5% in the 2nd quarter. Creative Planning now owns 85,345 shares of the specialty chemicals company’s stock valued at $6,277,000 after purchasing an additional 66,273 shares during the period. Finally, State Street Corp grew its position in International Flavors & Fragrances by 3.6% during the second quarter. State Street Corp now owns 10,884,974 shares of the specialty chemicals company’s stock valued at $804,753,000 after buying an additional 381,593 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.