Citigroup Lowers International Flavors & Fragrances (NYSE:IFF) Price Target to $75.00

International Flavors & Fragrances (NYSE:IFF) had its price target reduced by equities research analysts at Citigroup from $82.00 to $75.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s target price suggests a potential upside of 22.85% from the company’s previous close.

Several other equities research analysts also recently issued reports on IFF. Wells Fargo & Company lowered their price target on International Flavors & Fragrances from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Morgan Stanley lowered their price target on International Flavors & Fragrances from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, September 22nd. Barclays decreased their price objective on International Flavors & Fragrances from $84.00 to $78.00 and set an “overweight” rating for the company in a report on Friday, August 8th. UBS Group decreased their price objective on International Flavors & Fragrances from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of International Flavors & Fragrances in a report on Saturday, September 27th. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.57.

International Flavors & Fragrances Stock Down 0.7%

Shares of International Flavors & Fragrances stock opened at $61.05 on Monday. International Flavors & Fragrances has a 1 year low of $59.89 and a 1 year high of $106.77. The business has a 50-day moving average of $65.11 and a two-hundred day moving average of $71.94. The company has a market capitalization of $15.65 billion, a P/E ratio of -39.39, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.12.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.04. International Flavors & Fragrances had a positive return on equity of 7.95% and a negative net margin of 3.48%.The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. International Flavors & Fragrances has set its FY 2025 guidance at EPS. As a group, equities analysts predict that International Flavors & Fragrances will post 4.32 EPS for the current year.

Insider Buying and Selling

In related news, CEO J Erik Fyrwald purchased 15,300 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was purchased at an average cost of $64.95 per share, for a total transaction of $993,735.00. Following the completion of the purchase, the chief executive officer directly owned 77,370 shares in the company, valued at $5,025,181.50. This trade represents a 24.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Fribourg purchased 15,450 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the completion of the purchase, the director owned 15,450 shares of the company’s stock, valued at approximately $1,001,160. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Institutional Trading of International Flavors & Fragrances

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in International Flavors & Fragrances by 7.6% during the 2nd quarter. Blue Trust Inc. now owns 2,184 shares of the specialty chemicals company’s stock worth $161,000 after buying an additional 155 shares during the period. Horizon Investments LLC raised its stake in International Flavors & Fragrances by 4.9% during the 1st quarter. Horizon Investments LLC now owns 3,671 shares of the specialty chemicals company’s stock worth $285,000 after buying an additional 172 shares during the period. UMB Bank n.a. raised its stake in International Flavors & Fragrances by 17.3% during the 2nd quarter. UMB Bank n.a. now owns 1,290 shares of the specialty chemicals company’s stock worth $95,000 after buying an additional 190 shares during the period. Eastern Bank raised its stake in International Flavors & Fragrances by 43.9% during the 2nd quarter. Eastern Bank now owns 633 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 193 shares during the period. Finally, State of Michigan Retirement System raised its stake in International Flavors & Fragrances by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock worth $5,113,000 after buying an additional 200 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.