International Flavors & Fragrances (IFF) Upgraded to Buy at Goldman Sachs Group

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Goldman Sachs Group upgraded shares of International Flavors & Fragrances (NYSE:IFF) from a neutral rating to a buy rating in a report released on Thursday morning, Marketbeat.com reports. They currently have $151.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $137.00.

Several other research firms also recently commented on IFF. ValuEngine downgraded shares of International Flavors & Fragrances from a buy rating to a hold rating in a research report on Wednesday, November 21st. Zacks Investment Research upgraded shares of International Flavors & Fragrances from a sell rating to a hold rating in a research report on Monday, January 21st. Barclays reiterated a sell rating on shares of International Flavors & Fragrances in a research report on Monday, February 18th. Citigroup reduced their price target on shares of International Flavors & Fragrances from $146.00 to $139.00 and set a neutral rating for the company in a research report on Thursday, February 21st. Finally, Seaport Global Securities began coverage on shares of International Flavors & Fragrances in a research report on Thursday, February 21st. They issued a neutral rating for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. International Flavors & Fragrances has an average rating of Hold and an average price target of $144.33.

Shares of NYSE:IFF traded down $1.59 during trading on Thursday, hitting $124.87. 179,202 shares of the company were exchanged, compared to its average volume of 1,000,143. The company has a market capitalization of $13.34 billion, a PE ratio of 19.88, a P/E/G ratio of 2.14 and a beta of 0.75. The company has a current ratio of 2.61, a quick ratio of 1.65 and a debt-to-equity ratio of 0.75. International Flavors & Fragrances has a 12-month low of $121.85 and a 12-month high of $150.57.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Wednesday, February 13th. The specialty chemicals company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). International Flavors & Fragrances had a return on equity of 15.56% and a net margin of 8.48%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. The firm’s quarterly revenue was up 42.6% compared to the same quarter last year. As a group, equities research analysts predict that International Flavors & Fragrances will post 6.36 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Monday, March 25th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, March 22nd. This represents a $2.92 dividend on an annualized basis and a yield of 2.34%. International Flavors & Fragrances’s payout ratio is currently 46.50%.

In other news, major shareholder Winder Investment Pte Ltd acquired 79,400 shares of the business’s stock in a transaction on Wednesday, December 26th. The stock was bought at an average price of $127.98 per share, for a total transaction of $10,161,612.00. Following the transaction, the insider now owns 19,315,758 shares in the company, valued at $2,472,030,708.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have acquired 751,210 shares of company stock valued at $98,833,962. 0.50% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. JOYN Advisors Inc. raised its position in International Flavors & Fragrances by 65.5% during the 4th quarter. JOYN Advisors Inc. now owns 187 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 74 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new position in International Flavors & Fragrances during the 4th quarter worth $27,000. Fort L.P. raised its position in International Flavors & Fragrances by 365.3% during the 4th quarter. Fort L.P. now owns 228 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 179 shares during the last quarter. Penserra Capital Management LLC purchased a new position in International Flavors & Fragrances during the 4th quarter worth $37,000. Finally, Kaizen Advisory LLC raised its position in International Flavors & Fragrances by 50.3% during the 4th quarter. Kaizen Advisory LLC now owns 272 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 91 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through two segments, Flavors and Fragrances. The Flavors segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

See Also: Earnings Per Share (EPS)

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

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