International Flavors & Fragrances (NYSE:IFF) Stock Rating Lowered by Bank of America

International Flavors & Fragrances (NYSE:IFF) was downgraded by analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $91.00 price target on the specialty chemicals company’s stock. Bank of America‘s target price would indicate a potential upside of 9.94% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Sunday, October 25th. Barclays raised their target price on shares of International Flavors & Fragrances from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. KeyCorp assumed coverage on shares of International Flavors & Fragrances in a report on Thursday, September 10th. They set a “sector weight” rating on the stock. UBS Group upped their price target on shares of International Flavors & Fragrances from $91.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings upgraded shares of International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.05.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $82.78 on Friday. The stock has a 50-day simple moving average of $87.09 and a two-hundred day simple moving average of $78.98. International Flavors & Fragrances has a 52-week low of $61.72 and a 52-week high of $95.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.72 and a current ratio of 1.87. The firm has a market capitalization of $20.73 billion, a PE ratio of 116.58, a P/E/G ratio of 3.56 and a beta of 0.86.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. International Flavors & Fragrances had a return on equity of 6.82% and a net margin of 1.97%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts forecast that International Flavors & Fragrances will post 3.23 EPS for the current year.

International Flavors & Fragrances announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 4th that allows the company to buy back $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 12.1% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at International Flavors & Fragrances

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $83.19, for a total transaction of $475,680.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.07% of the stock is currently owned by insiders.

Institutional Trading of International Flavors & Fragrances

A number of large investors have recently made changes to their positions in IFF. First Command Advisory Services Inc. raised its position in shares of International Flavors & Fragrances by 155.5% during the 3rd quarter. First Command Advisory Services Inc. now owns 396 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 241 shares in the last quarter. Heritage Family Offices LLP bought a new stake in International Flavors & Fragrances in the third quarter worth about $54,000. Root Financial Partners LLC purchased a new position in International Flavors & Fragrances during the 3rd quarter valued at $54,000. Parkside Financial Bank & Trust lifted its position in shares of International Flavors & Fragrances by 27.9% during the second quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company’s stock worth $56,000 after purchasing an additional 154 shares during the last quarter. Finally, Westpac Banking Corp purchased a new stake in shares of International Flavors & Fragrances during the second quarter valued at $91,000. 96.02% of the stock is currently owned by institutional investors.

More International Flavors & Fragrances News

Here are the key news stories impacting International Flavors & Fragrances this week:

• Positive Sentiment: Citigroup raised its price target to $105 from $100 and reiterated “buy,” while JPMorgan lifted its target to $95 from $92 and maintained “overweight.” Citigroup coverage JPMorgan coverage
• Positive Sentiment: Barclays lowered its target slightly, from $105 to $103, but retained its “overweight” rating, signaling continued confidence in potential upside. Barclays recommendations
• Neutral Sentiment: UBS raised its price target from $91 to $95 but kept a “neutral” rating. UBS coverage
• Neutral Sentiment: IFF’s latest reported quarter beat estimates, with earnings of $0.83 per share versus $0.81 expected and revenue of $1.94 billion versus $1.91 billion expected. However, earnings were below the year-ago quarter’s $1.05 per share. Earnings analysis
• Negative Sentiment: Bank of America downgraded IFF from “buy” to “underperform,” despite setting a $91 price target. The rating change is the clearest negative catalyst among the recent analyst updates. Bank of America recommendations

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE: IFF) develops ingredients and solutions used by manufacturers in food and beverages, fragrances, personal care, home care, health and wellness, and other consumer products. Its offerings include flavors, fragrance compounds, enzymes, cultures, probiotics, and specialty food ingredients.

The company works with customers to create and improve products, including by enhancing taste and scent, supporting product performance, and developing ingredients for nutrition and wellness applications.