International Flavors & Fragrances (NYSE:IFF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “In the last three months, International Flavors & Fragrances' shares have outperformed the industry. We believe the company will gain from growing demand for flavors and fragrances, strengthening its foothold in emerging markets and from innovation of new and improved products going forward. It will also benefit from its multi-year productivity program, enabling it to check costs, make strategic investments and expand businesses globally. For 2017, the company expects net sales to grow 7.5-8.5% on a currency neutral basis while predicts earnings per share to increase 6.5-7.5%. However, the company's presence in international markets has exposed it to risks arising from foreign currency-translation, geopolitical issues and stiff competition. For 2017, it predicts a negative foreign currency impact of 1% on operating profit and 2% on earnings per share growth. The stock is overvalued compared to the industry.”
Other equities research analysts also recently issued reports about the company. KeyCorp reaffirmed a “buy” rating and set a $148.00 target price on shares of International Flavors & Fragrances in a report on Wednesday, October 4th. Berenberg Bank reaffirmed a “buy” rating and set a $160.00 target price on shares of International Flavors & Fragrances in a report on Friday, November 10th. Finally, UBS Group reaffirmed a “buy” rating and set a $166.00 target price (up from $151.00) on shares of International Flavors & Fragrances in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $147.50.
International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Monday, November 6th. The specialty chemicals company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. International Flavors & Fragrances had a return on equity of 27.13% and a net margin of 12.57%. The business had revenue of $872.90 million during the quarter, compared to the consensus estimate of $847.63 million. During the same period in the prior year, the business posted $1.34 earnings per share. International Flavors & Fragrances’s revenue was up 12.3% compared to the same quarter last year. research analysts anticipate that International Flavors & Fragrances will post 5.78 earnings per share for the current fiscal year.
In related news, EVP Anne Chwat sold 3,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $149.61, for a total value of $448,830.00. Following the completion of the sale, the executive vice president now directly owns 39,157 shares of the company’s stock, valued at approximately $5,858,278.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Winder Investment Pte Ltd lifted its stake in International Flavors & Fragrances by 12.6% in the 3rd quarter. Winder Investment Pte Ltd now owns 10,420,193 shares of the specialty chemicals company’s stock worth $1,489,150,000 after acquiring an additional 1,169,400 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of International Flavors & Fragrances by 1,096.1% during the 2nd quarter. Janus Henderson Group PLC now owns 103,621 shares of the specialty chemicals company’s stock worth $13,989,000 after purchasing an additional 94,958 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of International Flavors & Fragrances by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 256,602 shares of the specialty chemicals company’s stock worth $34,639,000 after purchasing an additional 14,604 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of International Flavors & Fragrances by 3.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 372,249 shares of the specialty chemicals company’s stock worth $53,199,000 after purchasing an additional 13,225 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of International Flavors & Fragrances during the 2nd quarter worth about $428,000. 82.67% of the stock is owned by hedge funds and other institutional investors.
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About International Flavors & Fragrances
International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.
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