International Flavors & Fragrances (NYSE:IFF) Hits New 12-Month High – Here’s Why

Shares of International Flavors & Fragrances Inc. (NYSE:IFF) hit a new 52-week high during trading on Tuesday . The stock traded as high as $106.40 and last traded at $104.94, with a volume of 120831 shares. The stock had previously closed at $105.14.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IFF. UBS Group cut their price objective on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Stifel Nicolaus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and raised their price target for the company from $95.00 to $115.00 in a report on Monday, July 22nd. Morgan Stanley upped their price objective on International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 3rd. Citigroup raised their target price on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Wells Fargo & Company boosted their price target on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.43.

International Flavors & Fragrances Trading Down 0.3 %

The stock has a market capitalization of $26.99 billion, a P/E ratio of -10.82, a PEG ratio of 1.82 and a beta of 1.22. The stock’s fifty day moving average price is $101.97 and its 200 day moving average price is $96.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the firm earned $0.86 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts forecast that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -16.38%.

Hedge Funds Weigh In On International Flavors & Fragrances

Several institutional investors have recently made changes to their positions in IFF. CWM LLC lifted its stake in International Flavors & Fragrances by 1.7% in the third quarter. CWM LLC now owns 6,540 shares of the specialty chemicals company’s stock worth $686,000 after acquiring an additional 109 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of International Flavors & Fragrances by 5.0% during the second quarter. Summit Trail Advisors LLC now owns 2,471 shares of the specialty chemicals company’s stock valued at $236,000 after purchasing an additional 117 shares in the last quarter. Orca Investment Management LLC increased its holdings in International Flavors & Fragrances by 0.6% during the third quarter. Orca Investment Management LLC now owns 21,266 shares of the specialty chemicals company’s stock valued at $2,231,000 after buying an additional 122 shares during the period. State of Alaska Department of Revenue raised its stake in International Flavors & Fragrances by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 27,696 shares of the specialty chemicals company’s stock worth $2,381,000 after buying an additional 130 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in International Flavors & Fragrances by 18.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 863 shares of the specialty chemicals company’s stock worth $82,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

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.