Citigroup Cuts International Flavors & Fragrances (NYSE:IFF) Price Target to $88.00

International Flavors & Fragrances (NYSE:IFF) had its price objective lowered by equities research analysts at Citigroup from $96.00 to $88.00 in a report released on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective would suggest a potential upside of 15.39% from the stock’s current price.

Other analysts have also recently issued reports about the company. Rothschild & Co Redburn lowered their target price on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. BNP Paribas Exane raised their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Barclays boosted their price objective on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Oppenheimer lifted their price target on International Flavors & Fragrances from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.58.

International Flavors & Fragrances Stock Performance

IFF stock opened at $76.27 on Wednesday. International Flavors & Fragrances has a 1-year low of $59.14 and a 1-year high of $84.45. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The firm has a market cap of $19.47 billion, a PE ratio of 23.15, a P/E/G ratio of 1.76 and a beta of 0.94. The business’s 50-day moving average price is $74.74 and its two-hundred day moving average price is $72.74.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. As a group, research analysts forecast that International Flavors & Fragrances will post 4.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg bought 260,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the acquisition, the director owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Lloyd Advisory Services LLC. bought a new position in International Flavors & Fragrances during the fourth quarter worth about $27,000. Root Financial Partners LLC raised its stake in International Flavors & Fragrances by 97.9% in the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 274 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 884.1% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 610 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of International Flavors & Fragrances by 42.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company’s stock worth $54,000 after acquiring an additional 239 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

About International Flavors & Fragrances

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.