International Flavors & Fragrances (NYSE:IFF) Given New $105.00 Price Target at Citigroup

International Flavors & Fragrances (NYSE:IFF) had its price target raised by investment analysts at Citigroup from $100.00 to $105.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Citigroup‘s price target would suggest a potential upside of 21.34% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Vertical Research lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Thursday, August 6th. Barclays raised their price objective 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. Benchmark upped their target price on International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. UBS Group increased their price target on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.58.

International Flavors & Fragrances Price Performance

IFF stock traded down $1.13 on Thursday, hitting $86.54. 3,517,758 shares of the company’s stock traded hands, compared to its average volume of 1,874,546. 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 stock has a market cap of $22.08 billion, a price-to-earnings ratio of 121.88, a P/E/G ratio of 3.96 and a beta of 0.86. The stock has a fifty day moving average of $87.19 and a 200-day moving average of $78.85. International Flavors & Fragrances has a 1-year low of $61.72 and a 1-year high of $95.27.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, November 3rd. The specialty chemicals company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. International Flavors & Fragrances had a return on equity of 6.72% and a net margin of 1.97%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business posted $1.05 earnings per share. International Flavors & Fragrances’s revenue was up 3.9% compared to the same quarter last year. On average, analysts forecast that International Flavors & Fragrances will post 3.24 EPS for the current fiscal year.

International Flavors & Fragrances announced that its board has authorized a share buyback plan on Tuesday, August 4th that allows the company to buy back $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 12.1% of its shares through open market purchases. Share repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, CAO Marc Birenkrant sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the sale, the chief accounting officer owned 3,446 shares of the company’s stock, valued at approximately $292,910. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction on Monday, August 17th. The shares were sold at an average price of $83.19, for a total value of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of large investors have recently modified their holdings of IFF. Lido Advisors LLC increased its holdings in shares of International Flavors & Fragrances by 28.2% in the third quarter. Lido Advisors LLC now owns 4,643 shares of the specialty chemicals company’s stock valued at $388,000 after purchasing an additional 1,020 shares in the last quarter. New York Life Investment Management LLC boosted its stake in shares of International Flavors & Fragrances by 1.3% in 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. AlphaCore Capital LLC grew its holdings in International Flavors & Fragrances by 66.1% during the 3rd quarter. AlphaCore Capital LLC now owns 9,759 shares of the specialty chemicals company’s stock worth $815,000 after acquiring an additional 3,885 shares during the period. Fulcrum Asset Management LLP increased its holdings in International Flavors & Fragrances by 137,963.6% in the third quarter. Fulcrum Asset Management LLP now owns 15,187 shares of the specialty chemicals company’s stock valued at $1,295,000 after purchasing an additional 15,176 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of International Flavors & Fragrances by 8.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,480 shares of the specialty chemicals company’s stock valued at $1,120,000 after acquiring an additional 1,072 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

About International Flavors & Fragrances

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.