International Flavors & Fragrances Inc. (NYSE:IFF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “International Flavors & Fragrances is well positioned to benefit from the growing demand for flavors and fragrances. Also, the company acquires meaningful businesses for expansion, latest being David Michael in Oct 2016 and agreement signed for Fragrance Resources in November. However, the company is exposed to risks arising from adverse currency movements, geopolitical issues in some foreign countries and stiff competition. In third-quarter 2016, the company's adjusted earnings of $1.34 per share declined 3.6% year over year but revenues were up 2% or climbed 3% excluding the adverse forex impact. For 2016, the company expects currency-neutral net sales to grow roughly 4-5% versus 3.5-4.5% expected earlier; while adjusted earnings per share will likely increase in the 5-6% range. Adverse foreign currency movements are likely to negatively impact sales by 1.5%, while operating profit and earnings per share by 2%.”

A number of other equities research analysts have also commented on IFF. Berenberg Bank initiated coverage on International Flavors & Fragrances in a research report on Wednesday, July 20th. They set a “buy” rating and a $163.40 price target on the stock. Deutsche Bank AG restated a “hold” rating and set a $130.00 price target (up from $124.00) on shares of International Flavors & Fragrances in a research report on Sunday, July 24th. Gabelli lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $153.00 price objective on shares of International Flavors & Fragrances in a report on Sunday, August 14th. Finally, Argus upped their price objective on International Flavors & Fragrances from $146.00 to $156.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $145.04.

Analyst Recommendations for International Flavors & Fragrances (NYSE:IFF)

International Flavors & Fragrances (NYSE:IFF) opened at 124.03 on Thursday. The stock’s 50 day moving average price is $134.33 and its 200-day moving average price is $131.33. International Flavors & Fragrances has a one year low of $97.24 and a one year high of $143.64. The stock has a market cap of $9.87 billion, a P/E ratio of 23.73 and a beta of 1.15.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Monday, November 7th. The company reported $1.34 EPS for the quarter, missing the Zacks’ consensus estimate of $1.42 by $0.08. The business had revenue of $777 million for the quarter, compared to the consensus estimate of $785.05 million. International Flavors & Fragrances had a return on equity of 26.17% and a net margin of 12.92%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.39 earnings per share. On average, analysts predict that International Flavors & Fragrances will post $5.57 earnings per share for the current year.

In related news, insider Nicolas Mirzayantz sold 3,881 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $135.84, for a total transaction of $527,195.04. Following the sale, the insider now owns 60,016 shares of the company’s stock, valued at approximately $8,152,573.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in shares of International Flavors & Fragrances by 0.5% in the second quarter. Quadrant Capital Group LLC now owns 874 shares of the company’s stock valued at $110,000 after buying an additional 4 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of International Flavors & Fragrances by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,520 shares of the company’s stock valued at $360,000 after buying an additional 10 shares during the last quarter. Veritable L.P. increased its stake in shares of International Flavors & Fragrances by 1.4% in the second quarter. Veritable L.P. now owns 1,975 shares of the company’s stock valued at $249,000 after buying an additional 28 shares during the last quarter. Albert D Mason Inc. increased its stake in shares of International Flavors & Fragrances by 0.3% in the second quarter. Albert D Mason Inc. now owns 12,470 shares of the company’s stock valued at $1,572,000 after buying an additional 35 shares during the last quarter. Finally, Creative Planning increased its stake in shares of International Flavors & Fragrances by 2.8% in the second quarter. Creative Planning now owns 1,383 shares of the company’s stock valued at $174,000 after buying an additional 38 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (IFF) creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) for the food, beverage, personal care and household products industries either in the form of compounds or individual ingredients. The Company operates in two segments: Flavors and Fragrances.

5 Day Chart for NYSE:IFF

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