International Flavors & Fragrances Receives “Neutral” Rating from Zacks (IFF)
International Flavors & Fragrances (NYSE:IFF)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Monday, StockRatingsNetwork.com reports. They currently have a $96.00 price target on the stock. Zacks‘ price target suggests a potential upside of 4.64% from the company’s current price.
Zacks‘ analyst wrote, “International Flavors & Fragrances reported adjusted earnings per share of $0.92 in fourth-quarter 2013, up 10.8% year over year and above the Zacks Consensus Estimate of $0.90. Revenue increased 6.6%. Sales in emerging markets grew 11% and accounted for 50% of total sales. Margins benefited from cost reductions and manufacturing efficiencies. Revenue and earnings growth are anticipated to remain strong in 2014. The acquisition of Aromor will add 1% to local currency sales growth and be accretive to earnings. The company’s plan to invest $50 million in Indonesia will expand its Flavors business in the region. Besides expansion plans, the company’s investments will strengthen its innovation platforms. Rewarding shareholders through dividend payments and share buybacks also remains a priority for the company. Despite these, 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 on the stock.”
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of International Flavors & Fragrances in a research note on Friday. They now have a $98.00 price target on the stock, down previously from $100.00. Separately, analysts at Barclays raised their price target on shares of International Flavors & Fragrances from $95.00 to $106.00 in a research note on Friday. They now have an “overweight” rating on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. International Flavors & Fragrances currently has an average rating of “Buy” and a consensus target price of $94.29.
Shares of International Flavors & Fragrances (NYSE:IFF) traded up 1.30% during mid-day trading on Monday, hitting $91.74. The stock had a trading volume of 387,232 shares. International Flavors & Fragrances has a 1-year low of $70.73 and a 1-year high of $92.04. The stock has a 50-day moving average of $86.38 and a 200-day moving average of $84.19. The company has a market cap of $7.453 billion and a price-to-earnings ratio of 21.11.
International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Thursday, February 13th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.01. The company had revenue of $725.00 million for the quarter, compared to the consensus estimate of $708.21 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that International Flavors & Fragrances will post $4.94 earnings per share for the current fiscal year.
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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