International Flavors & Fragrances Given Neutral Rating at Zacks (IFF)
International Flavors & Fragrances (NYSE:IFF)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Wednesday, AnalystRatingsNetwork.com reports. They currently have a $84.00 price objective on the stock. Zacks‘ price target suggests a potential upside of 5.04% from the stock’s previous close.
Zacks‘ analyst wrote, “Growth prospects are bright for International Flavors & Fragrances on the back of new business wins, geographical diversification, wide product lines, continuous accomplishments in research and intense consumer insight. For 2013, management anticipates overall results to be in-line with the long-term targets. The company fared well in the second quarter 2013 posting earnings per share of $1.14, up 5.6% year over year but $0.04 below the Zacks Consensus Estimate. Revenue grew by 5% or 6% on constant currency. Geographically, business flourished in all operating regions while growth in emerging markets was appreciable at 10%. This was partially offset by negative foreign currency translation impact. Dividend increase and a share buyback approval in hand signify the company’s efforts to reward its shareholders well. Despite these, risks from increase in debt levels as well as negative impact from foreign currency translation might prove detrimental to growth. Thus currently we maintain a Neutral recommendation.”
Shares of International Flavors & Fragrances (NYSE:IFF) traded up 0.35% on Wednesday, hitting $80.25. 85,349 shares of the company’s stock traded hands. International Flavors & Fragrances has a 1-year low of $60.15 and a 1-year high of $84.99. The stock has a 50-day moving average of $81.39 and a 200-day moving average of $79.41. The company has a market cap of $6.559 billion and a P/E ratio of 23.72.
International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.18 by $0.04. The company had revenue of $757.60 million for the quarter, compared to the consensus estimate of $752.03 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts predict that International Flavors & Fragrances will post $4.44 earnings per share for the current fiscal year.
Separately, analysts at Morgan Stanley raised their price target on shares of International Flavors & Fragrances from $83.00 to $87.00 in a research note to investors on Monday, August 12th. They now have an “overweight” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.43.
International Flavors & Fragrances Inc (NYSE:IFF) creates, manufactures and supplies flavors and fragrances for the food, beverage, personal care and household products industries.
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