International Flavors & Fragrances (NYSE:IFF) Shares Gap Down – Here’s Why

International Flavors & Fragrances Inc. (NYSE:IFF)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $86.45, but opened at $80.99. International Flavors & Fragrances shares last traded at $83.68, with a volume of 255,624 shares changing hands.

Analysts Set New Price Targets

IFF has been the subject of a number of research analyst reports. Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Cfra lowered International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price objective for the company. in a research report on Thursday. Wells Fargo & Company cut their price objective on International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Vertical Research upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

International Flavors & Fragrances Trading Down 0.3 %

The company has a market cap of $20.43 billion, a PE ratio of 85.02, a price-to-earnings-growth ratio of 1.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. The company has a 50-day moving average of $84.86 and a 200 day moving average of $93.55.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.83 by $0.14. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.67 billion. Analysts predict that International Flavors & Fragrances Inc. will post 4.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IFF. SBI Securities Co. Ltd. purchased a new position in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $32,000. Fairway Wealth LLC purchased a new position in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $34,000. Point72 Hong Kong Ltd purchased a new position in shares of International Flavors & Fragrances during the third quarter valued at approximately $42,000. Rialto Wealth Management LLC purchased a new position in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $42,000. Finally, Eastern Bank purchased a new position in shares of International Flavors & Fragrances during the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.