Citigroup Forecasts Strong Price Appreciation for International Flavors & Fragrances (NYSE:IFF) Stock

International Flavors & Fragrances (NYSE:IFF) had its price objective hoisted by investment analysts at Citigroup from $77.00 to $83.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective would suggest a potential upside of 14.97% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Mizuho cut their price target on shares of International Flavors & Fragrances from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Barclays upped their target price on International Flavors & Fragrances from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Berenberg Bank reduced their target price on International Flavors & Fragrances from $78.80 to $78.30 and set a “hold” rating on the stock in a report on Monday, September 29th. Bank of America boosted their price target on International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Wall Street Zen raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Sunday, January 4th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and an average target price of $86.46.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $72.19 on Wednesday. The firm has a market cap of $18.49 billion, a PE ratio of -44.56, a price-to-earnings-growth ratio of 2.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.87. The stock’s fifty day moving average price is $67.49 and its two-hundred day moving average price is $66.86. International Flavors & Fragrances has a one year low of $59.14 and a one year high of $88.09.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.03. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.65 billion. International Flavors & Fragrances had a positive return on equity of 8.03% and a negative net margin of 3.72%.International Flavors & Fragrances’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 EPS. As a group, research analysts expect that International Flavors & Fragrances will post 4.32 EPS for the current fiscal year.

Hedge Funds Weigh In On International Flavors & Fragrances

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in International Flavors & Fragrances by 32.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 111,431 shares of the specialty chemicals company’s stock valued at $8,367,000 after purchasing an additional 27,166 shares during the last quarter. Clarkston Capital Partners LLC purchased a new stake in shares of International Flavors & Fragrances during the 2nd quarter valued at approximately $11,939,000. Creative Planning boosted its holdings in International Flavors & Fragrances by 347.5% in the 2nd quarter. Creative Planning now owns 85,345 shares of the specialty chemicals company’s stock worth $6,277,000 after buying an additional 66,273 shares during the period. State Street Corp grew its stake in International Flavors & Fragrances by 3.6% in the 2nd quarter. State Street Corp now owns 10,884,974 shares of the specialty chemicals company’s stock valued at $804,753,000 after buying an additional 381,593 shares in the last quarter. Finally, AGF Management Ltd. raised its holdings in International Flavors & Fragrances by 17.0% during the 2nd quarter. AGF Management Ltd. now owns 39,614 shares of the specialty chemicals company’s stock valued at $2,914,000 after acquiring an additional 5,754 shares during the period. 96.02% of the stock is currently owned by institutional investors.

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.