International Flavors & Fragrances (NYSE:IFF) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of International Flavors & Fragrances (NYSE:IFF – Free Report) from a sell rating to a hold rating in a research note released on Sunday,Wall Street Zen reports.

IFF has been the subject of several other research reports. Zacks Research raised shares of International Flavors & Fragrances from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. Argus raised their price objective on International Flavors & Fragrances from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Morgan Stanley lifted their target price on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. KeyCorp started coverage on International Flavors & Fragrances in a research note on Thursday, September 10th. They issued a “sector weight” rating for the company. Finally, Oppenheimer increased their price target on International Flavors & Fragrances from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average price target of $94.28.

Check Out Our Latest Research Report on International Flavors & Fragrances

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $93.29 on Friday. The company’s 50 day simple moving average is $86.32 and its 200 day simple moving average is $78.19. International Flavors & Fragrances has a fifty-two week low of $61.29 and a fifty-two week high of $94.65.

International Flavors & Fragrances (NYSE:IFF – Get Free Report) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.25). The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. The business’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 earnings per share. Equities research analysts predict that International Flavors & Fragrances will post 3.24 EPS for the current fiscal year.

International Flavors & Fragrances announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 12.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, EVP Michael Deveau sold 8,825 shares of International Flavors & Fragrances stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $85.55, for a total value of $754,978.75. Following the transaction, the executive vice president owned 5,199 shares in the company, valued at $444,774.45. The trade was a 62.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Marc Birenkrant sold 1,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the transaction, the chief accounting officer directly owned 3,446 shares of the company’s stock, valued at $292,910. This trade represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 15,543 shares of company stock valued at $1,315,659 over the last ninety days. 1.07% of the stock is owned by corporate insiders.

Institutional Trading of International Flavors & Fragrances

Several large investors have recently modified their holdings of the stock. Root Financial Partners LLC grew its holdings in 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 period. Parkside Financial Bank & Trust increased its stake 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 purchasing an additional 154 shares in the last quarter. Westpac Banking Corp acquired a new position in shares of International Flavors & Fragrances during the second quarter valued at about $91,000. Mather Group LLC. raised its holdings in shares of International Flavors & Fragrances by 24.0% during the third quarter. Mather Group LLC. now owns 1,393 shares of the specialty chemicals company’s stock valued at $116,000 after purchasing an additional 270 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of International Flavors & Fragrances during the 2nd quarter worth about $148,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

About International Flavors & Fragrances

(Get Free Report)

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.

Further Reading

Analyst Recommendations for International Flavors & Fragrances (NYSE:IFF)

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