International Flavors & Fragrances (NYSE:IFF) Price Target Raised to $108.00 at Citigroup

International Flavors & Fragrances (NYSE:IFF) had its price objective lifted by Citigroup from $100.00 to $108.00 in a report published on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the specialty chemicals company’s stock.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of International Flavors & Fragrances from a sell rating to a hold rating in a research report on Monday, March 25th. UBS Group upped their price objective on shares of International Flavors & Fragrances from $78.00 to $82.00 and gave the company a neutral rating in a research report on Thursday, January 11th. Stifel Nicolaus boosted their price target on International Flavors & Fragrances from $87.00 to $95.00 and gave the stock a hold rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on International Flavors & Fragrances from $90.00 to $100.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group upgraded shares of International Flavors & Fragrances from a hold rating to a buy rating and lifted their price target for the stock from $73.00 to $112.00 in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $93.18.

International Flavors & Fragrances Price Performance

Shares of IFF traded down $0.18 during trading hours on Wednesday, reaching $97.05. 1,640,373 shares of the company traded hands, compared to its average volume of 2,130,036. The stock has a fifty day simple moving average of $83.72 and a 200 day simple moving average of $79.43. International Flavors & Fragrances has a fifty-two week low of $62.11 and a fifty-two week high of $97.48. The stock has a market capitalization of $24.78 billion, a PE ratio of -9.67, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.63.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27. International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts predict that International Flavors & Fragrances will post 3.68 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s payout ratio is currently -15.94%.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IFF. Commonwealth Equity Services LLC increased its holdings in shares of International Flavors & Fragrances by 124.1% in the third quarter. Commonwealth Equity Services LLC now owns 41,019 shares of the specialty chemicals company’s stock valued at $2,796,000 after buying an additional 22,719 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of International Flavors & Fragrances by 4.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,823 shares of the specialty chemicals company’s stock valued at $874,000 after purchasing an additional 590 shares during the period. Raymond James & Associates increased its stake in International Flavors & Fragrances by 125.9% in the 3rd quarter. Raymond James & Associates now owns 170,673 shares of the specialty chemicals company’s stock worth $11,635,000 after purchasing an additional 95,118 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in International Flavors & Fragrances by 20.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 57,816 shares of the specialty chemicals company’s stock valued at $3,941,000 after buying an additional 9,845 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of International Flavors & Fragrances by 3.8% in the third quarter. Stratos Wealth Partners LTD. now owns 4,388 shares of the specialty chemicals company’s stock worth $299,000 after buying an additional 161 shares during the period. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.