International Flavors & Fragrances (NYSE:IFF) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says
by Michael Walen · The Markets DailyInternational Flavors & Fragrances (NYSE:IFF – Get Free Report) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $92.00 to $95.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.77% from the stock’s previous close.
Several other research analysts have also recently issued reports on IFF. Vertical Research cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a report on Thursday, August 6th. Benchmark lifted their price target on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday, October 25th. KeyCorp initiated coverage on International Flavors & Fragrances in a research report on Thursday, September 10th. They issued a “sector weight” rating for the company. Finally, Barclays raised their target price on International Flavors & Fragrances from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.05.
Read Our Latest Stock Report on International Flavors & Fragrances
International Flavors & Fragrances Price Performance
Shares of NYSE IFF traded down $3.58 during midday trading on Thursday, hitting $82.78. 2,893,580 shares of the company’s stock were exchanged, compared to its average volume of 2,192,094. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. The business’s fifty day moving average price is $87.09 and its two-hundred day moving average price is $78.98. The company has a market cap of $21.12 billion, a price-to-earnings ratio of 116.58, a PEG ratio of 4.06 and a beta of 0.86. International Flavors & Fragrances has a 12-month low of $61.72 and a 12-month high of $95.27.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. As a group, research analysts forecast that International Flavors & Fragrances will post 3.23 EPS for the current fiscal year.
International Flavors & Fragrances declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 4th that allows the company to buy back $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 12.1% of its shares through open market purchases. Share buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Insider Activity
In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.07% of the stock is currently owned by insiders.
Hedge Funds Weigh In On International Flavors & Fragrances
A number of hedge funds have recently modified their holdings of IFF. Maryland State Retirement & Pension System boosted its position in shares of International Flavors & Fragrances by 12.5% during the third quarter. Maryland State Retirement & Pension System now owns 14,896 shares of the specialty chemicals company’s stock worth $1,244,000 after acquiring an additional 1,659 shares during the last quarter. First Command Advisory Services Inc. lifted its stake in International Flavors & Fragrances by 155.5% in the 3rd quarter. First Command Advisory Services Inc. now owns 396 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Lido Advisors LLC lifted its stake in International Flavors & Fragrances by 28.2% in the 3rd quarter. Lido Advisors LLC now owns 4,643 shares of the specialty chemicals company’s stock worth $388,000 after purchasing an additional 1,020 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in shares of International Flavors & Fragrances by 1.3% during the 3rd quarter. New York Life Investment Management LLC now owns 41,564 shares of the specialty chemicals company’s stock valued at $3,470,000 after purchasing an additional 546 shares during the last quarter. Finally, AlphaCore Capital LLC grew its position in shares of International Flavors & Fragrances by 66.1% during the third quarter. AlphaCore Capital LLC now owns 9,759 shares of the specialty chemicals company’s stock valued at $815,000 after purchasing an additional 3,885 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.
Key Stories Impacting International Flavors & Fragrances
Here are the key news stories impacting International Flavors & Fragrances this week:
- Positive Sentiment: Citigroup raised its price target to $105 from $100 and reiterated “buy,” while JPMorgan lifted its target to $95 from $92 and maintained “overweight.” Citigroup coverage JPMorgan coverage
- Positive Sentiment: Barclays lowered its target slightly, from $105 to $103, but retained its “overweight” rating, signaling continued confidence in potential upside. Barclays recommendations
- Neutral Sentiment: UBS raised its price target from $91 to $95 but kept a “neutral” rating. UBS coverage
- Neutral Sentiment: IFF’s latest reported quarter beat estimates, with earnings of $0.83 per share versus $0.81 expected and revenue of $1.94 billion versus $1.91 billion expected. However, earnings were below the year-ago quarter’s $1.05 per share. Earnings analysis
- Negative Sentiment: Bank of America downgraded IFF from “buy” to “underperform,” despite setting a $91 price target. The rating change is the clearest negative catalyst among the recent analyst updates. Bank of America recommendations
International Flavors & Fragrances Company Profile
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.
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