International Flavors & Fragrances (NYSE:IFF) Sets New 1-Year High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

IFF has been the subject of several analyst reports. Stifel Nicolaus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $115.00 in a research report on Monday, July 22nd. Barclays boosted their price objective on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a report on Friday. Oppenheimer lifted their price target on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Wells Fargo & Company upped their price objective on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Citigroup lifted their target price on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.43.

International Flavors & Fragrances Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75. The company’s 50 day simple moving average is $101.54 and its 200 day simple moving average is $96.16. The company has a market capitalization of $27.18 billion, a PE ratio of -10.76, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business earned $0.86 EPS. International Flavors & Fragrances’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 20th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, September 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. International Flavors & Fragrances’s dividend payout ratio is presently -16.38%.

Institutional Investors Weigh In On International Flavors & Fragrances

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of International Flavors & Fragrances in the 1st quarter valued at $27,000. Quent Capital LLC grew its position in International Flavors & Fragrances by 183.2% during the 1st quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Family Firm Inc. acquired a new position in International Flavors & Fragrances in the second quarter valued at $38,000. MCF Advisors LLC raised its holdings in shares of International Flavors & Fragrances by 1,856.0% in the second quarter. MCF Advisors LLC now owns 489 shares of the specialty chemicals company’s stock valued at $47,000 after buying an additional 464 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of International Flavors & Fragrances during the third quarter worth about $52,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About International Flavors & Fragrances

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.