International Flavors & Fragrances (NYSE:IFF) Reaches New 12-Month Low Following Analyst Downgrade

International Flavors & Fragrances Inc. (NYSE:IFF) reached a new 52-week low during trading on Wednesday after UBS Group lowered their price target on the stock from $83.00 to $79.00. UBS Group currently has a neutral rating on the stock. International Flavors & Fragrances traded as low as $63.71 and last traded at $65.14, with a volume of 1862487 shares trading hands. The stock had previously closed at $70.62.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company cut their price target on International Flavors & Fragrances from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Oppenheimer cut their price target on International Flavors & Fragrances from $104.00 to $89.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus cut their target price on International Flavors & Fragrances from $105.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Barclays upgraded International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $76.00 to $84.00 in a research note on Thursday, May 8th. Finally, Mizuho cut their target price on International Flavors & Fragrances from $95.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, International Flavors & Fragrances has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Insider Activity

In other International Flavors & Fragrances news, Director Mehmood Khan purchased 4,000 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was purchased at an average price of $75.33 per share, for a total transaction of $301,320.00. Following the transaction, the director owned 4,604 shares in the company, valued at $346,819.32. The trade was a 662.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen N. Landsman purchased 12,000 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were acquired at an average price of $77.28 per share, with a total value of $927,360.00. Following the transaction, the executive vice president owned 12,000 shares in the company, valued at approximately $927,360. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 21,350 shares of company stock worth $1,636,712. Company insiders own 0.20% of the company’s stock.

Institutional Trading of International Flavors & Fragrances

A number of hedge funds have recently bought and sold shares of IFF. Banque Transatlantique SA bought a new stake in International Flavors & Fragrances in the 1st quarter worth approximately $32,000. American National Bank & Trust lifted its position in International Flavors & Fragrances by 11,975.0% in the 2nd quarter. American National Bank & Trust now owns 483 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 479 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in International Flavors & Fragrances in the 1st quarter worth approximately $42,000. Geneos Wealth Management Inc. lifted its position in International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 210 shares during the last quarter. Finally, Eastern Bank lifted its position in International Flavors & Fragrances by 43.9% in the 2nd quarter. Eastern Bank now owns 633 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 193 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 6.3%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87. The stock has a 50-day moving average of $75.15 and a two-hundred day moving average of $77.68. The company has a market cap of $16.93 billion, a P/E ratio of -42.71, a P/E/G ratio of 3.12 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.69 billion. International Flavors & Fragrances had a positive return on equity of 8.01% and a negative net margin of 3.48%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. On average, research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances’s payout ratio is -48.93%.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.