International Flavors & Fragrances (NYSE:IFF) Shares Gap Down – Here’s Why

International Flavors & Fragrances Inc. (NYSE:IFF)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $86.45, but opened at $80.99. International Flavors & Fragrances shares last traded at $83.68, with a volume of 255,624 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IFF. Barclays decreased their target price on International Flavors & Fragrances from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Oppenheimer decreased their target price on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus decreased their target price on International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Vertical Research upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.50.

International Flavors & Fragrances Price Performance

The firm has a fifty day moving average price of $84.86 and a two-hundred day moving average price of $93.55. The stock has a market capitalization of $20.43 billion, a P/E ratio of 85.02, a PEG ratio of 1.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.93 and a current ratio of 1.84.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.14. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.67 billion. As a group, analysts expect that International Flavors & Fragrances Inc. will post 4.35 EPS for the current fiscal year.

Hedge Funds Weigh In On International Flavors & Fragrances

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in International Flavors & Fragrances in the 4th quarter worth $32,000. Fairway Wealth LLC bought a new stake in International Flavors & Fragrances during the fourth quarter valued at about $34,000. Point72 Hong Kong Ltd bought a new stake in International Flavors & Fragrances during the third quarter valued at about $42,000. Rialto Wealth Management LLC bought a new stake in International Flavors & Fragrances during the fourth quarter valued at about $42,000. Finally, Eastern Bank bought a new stake in International Flavors & Fragrances during the third quarter valued at about $46,000. 96.02% of the stock is owned by institutional investors.

International Flavors & Fragrances Company Profile

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.