International Flavors & Fragrances (NYSE:IFF) Upgraded to “Outperform” at Oppenheimer

International Flavors & Fragrances (NYSE:IFF) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $97.00 price objective on the specialty chemicals company’s stock. Oppenheimer’s target price indicates a potential upside of 18.87% from the company’s current price.

A number of other brokerages have also commented on IFF. BNP Paribas Exane cut their price target on International Flavors & Fragrances from $91.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of International Flavors & Fragrances in a research report on Monday, December 29th. Berenberg Bank cut their target price on shares of International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating for the company in a research note on Thursday, February 5th. Bank of America raised their price target on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Wall Street Zen raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. Thirteen equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.53.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $81.60 on Friday. International Flavors & Fragrances has a fifty-two week low of $59.14 and a fifty-two week high of $86.96. The stock’s 50-day moving average is $69.36 and its two-hundred day moving average is $66.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.87. The firm has a market cap of $20.90 billion, a P/E ratio of -59.56, a PEG ratio of 2.91 and a beta of 1.05.

International Flavors & Fragrances (NYSE:IFF) last released 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 business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.52 billion. International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.70%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. Analysts predict that International Flavors & Fragrances will post 4.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IFF. Allspring Global Investments Holdings LLC lifted its holdings in International Flavors & Fragrances by 32.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 111,431 shares of the specialty chemicals company’s stock worth $8,367,000 after acquiring an additional 27,166 shares in the last quarter. Ruffer LLP acquired a new position in shares of International Flavors & Fragrances during the 3rd quarter worth about $13,552,000. Clarkston Capital Partners LLC bought a new position in International Flavors & Fragrances in the second quarter valued at approximately $11,939,000. Creative Planning increased its holdings in International Flavors & Fragrances by 347.5% during the second quarter. Creative Planning now owns 85,345 shares of the specialty chemicals company’s stock worth $6,277,000 after buying an additional 66,273 shares during the last quarter. Finally, State Street Corp increased its position in 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 buying an additional 381,593 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

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.