International Flavors & Fragrances (NYSE:IFF) Upgraded by Zacks Research to Hold Rating

International Flavors & Fragrances (NYSE:IFF) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other research firms also recently weighed in on IFF. UBS Group increased their target price on International Flavors & Fragrances from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of International Flavors & Fragrances from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. KeyCorp assumed coverage on shares of International Flavors & Fragrances in a report on Thursday, September 10th. They set a “sector weight” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Finally, Benchmark upped their price target on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.40.

International Flavors & Fragrances Stock Performance

Shares of NYSE IFF opened at $85.83 on Monday. The company has a 50-day simple moving average of $82.84 and a 200-day simple moving average of $77.31. 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 company has a market cap of $21.90 billion, a PE ratio of 78.75, a price-to-earnings-growth ratio of 3.25 and a beta of 0.94. International Flavors & Fragrances has a 12 month low of $59.14 and a 12 month high of $89.32.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results 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). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business posted $1.15 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that International Flavors & Fragrances will post 3.08 earnings per share for the current year.

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

Insider Buying and Selling

In related news, EVP Michael Deveau sold 8,825 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 5,199 shares in the company, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 15,543 shares of company stock valued at $1,315,659. 1.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IFF. BlackRock Inc. purchased a new position in shares of International Flavors & Fragrances in the second quarter valued at $1,835,955,000. Eurizon Capital SGR S.p.A. purchased a new position in International Flavors & Fragrances in the 4th quarter valued at about $211,703,000. Nykredit A S acquired a new stake in shares of International Flavors & Fragrances during the second quarter valued at about $223,065,000. Norges Bank purchased a new stake in shares of International Flavors & Fragrances during the fourth quarter worth about $113,284,000. Finally, Bank of America Corp DE acquired a new position in shares of International Flavors & Fragrances in the second quarter worth about $131,760,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and related solutions used in consumer and industrial products. Its offerings help customers create or enhance the taste, aroma, texture, appearance and performance of products across the food, beverage, personal care, home care, health and pharmaceutical markets.

IFF’s business includes natural and synthetic flavor compounds, fragrance ingredients and compositions, cosmetic and personal-care ingredients, specialty food ingredients, enzymes, cultures, probiotics and other bioscience-based solutions.