International Flavors & Fragrances Inc. (NYSE:IFF) Stock Has Consensus Price Target of $94.28

Shares of International Flavors & Fragrances Inc. (NYSE:IFF) have earned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $94.28.

A number of research firms have recently commented on IFF. Benchmark raised their target price on International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Argus boosted their price target on shares of International Flavors & Fragrances from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. Weiss Ratings upgraded International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Vertical Research downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Sunday.

Insiders Place Their Bets

In related news, CAO Marc Birenkrant sold 1,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the transaction, the chief accounting officer owned 3,446 shares of the company’s stock, valued at approximately $292,910. This represents a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Deveau sold 8,825 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the sale, the executive vice president directly owned 5,199 shares in the company, valued at $444,774.45. This represents a 62.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,543 shares of company stock valued at $1,315,659 over the last quarter. 1.07% of the stock is owned by insiders.

Institutional Trading of International Flavors & Fragrances

A number of large investors have recently made changes to their positions in the company. North Dakota State Investment Board increased its stake in International Flavors & Fragrances by 2.8% in the 3rd quarter. North Dakota State Investment Board now owns 7,832 shares of the specialty chemicals company’s stock valued at $654,000 after buying an additional 215 shares during the period. Park Avenue Securities LLC lifted its stake in shares of International Flavors & Fragrances by 5.8% in the third quarter. Park Avenue Securities LLC now owns 11,634 shares of the specialty chemicals company’s stock valued at $971,000 after purchasing an additional 634 shares during the period. Apollon Wealth Management LLC increased its position in shares of International Flavors & Fragrances by 15.0% in the third quarter. Apollon Wealth Management LLC now owns 10,118 shares of the specialty chemicals company’s stock valued at $845,000 after buying an additional 1,319 shares in the last quarter. Signaturefd LLC grew its holdings in shares of International Flavors & Fragrances by 23.5% during the third quarter. Signaturefd LLC now owns 5,351 shares of the specialty chemicals company’s stock worth $447,000 after buying an additional 1,017 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of International Flavors & Fragrances by 9.6% during the third quarter. Citizens Financial Group Inc. RI now owns 2,876 shares of the specialty chemicals company’s stock worth $241,000 after buying an additional 253 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

International Flavors & Fragrances Stock Down 0.4%

International Flavors & Fragrances stock opened at $93.29 on Friday. The stock has a 50-day moving average price of $86.32 and a 200 day moving average price of $78.19. International Flavors & Fragrances has a 52 week low of $61.29 and a 52 week high of $94.65.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.25). The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the business posted $1.15 earnings per share. International Flavors & Fragrances’s revenue was up 1.8% compared to the same quarter last year. Research analysts anticipate that International Flavors & Fragrances will post 3.24 EPS 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 repurchase $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase up to 12.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

International Flavors & Fragrances Company Profile

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.