International Flavors & Fragrances Inc. (NYSE:IFF) Sees Large Growth in Short Interest

International Flavors & Fragrances Inc. (NYSE:IFF) was the recipient of a significant growth in short interest in January. As of January 30th, there was short interest totaling 9,996,888 shares, a growth of 34.1% from the January 15th total of 7,455,438 shares. Based on an average daily volume of 1,779,480 shares, the days-to-cover ratio is currently 5.6 days. Approximately 3.9% of the shares of the stock are sold short. Approximately 3.9% of the shares of the stock are sold short. Based on an average daily volume of 1,779,480 shares, the days-to-cover ratio is currently 5.6 days.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IFF. Bank of America increased their price objective 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. Oppenheimer raised shares of International Flavors & Fragrances from a “market perform” rating to an “outperform” rating and set a $97.00 target price for the company in a research note on Friday. Argus lifted their price target on shares of International Flavors & Fragrances from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Berenberg Bank dropped their price objective on shares of International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating for the company in a report on Thursday, February 5th. Finally, Wall Street Zen raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday, January 4th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.84.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF traded up $1.47 during mid-day trading on Monday, hitting $82.97. 4,068,476 shares of the company’s stock traded hands, compared to its average volume of 1,904,137. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.42 and a quick ratio of 0.85. International Flavors & Fragrances has a 1 year low of $59.14 and a 1 year high of $86.96. The company’s 50-day moving average is $70.03 and its two-hundred day moving average is $66.68. The company has a market capitalization of $21.25 billion, a P/E ratio of -60.56, a PEG ratio of 3.14 and a beta of 1.05.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.05). The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.52 billion. International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. International Flavors & Fragrances’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. On average, equities analysts anticipate that International Flavors & Fragrances will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Company Profile

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.