International Flavors & Fragrances (NYSE:IFF) Hits New 52-Week Low Following Analyst Downgrade

International Flavors & Fragrances Inc. (NYSE:IFF)’s share price hit a new 52-week low during trading on Friday after Barclays lowered their price target on the stock from $83.00 to $82.00. Barclays currently has an equal weight rating on the stock. International Flavors & Fragrances traded as low as $76.38 and last traded at $76.41, with a volume of 929638 shares. The stock had previously closed at $78.18.

A number of other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Argus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Citigroup decreased their price objective on shares of International Flavors & Fragrances from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Oppenheimer cut their price target on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price objective on International Flavors & Fragrances from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

Insider Buying and Selling

In related news, Director Kevin O’byrne acquired 6,500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $80.44 per share, with a total value of $522,860.00. Following the purchase, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $522,860. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of International Flavors & Fragrances

A number of institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its holdings in International Flavors & Fragrances by 12.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,102 shares of the specialty chemicals company’s stock valued at $1,270,000 after purchasing an additional 1,329 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of International Flavors & Fragrances by 75.4% in the third quarter. Cerity Partners LLC now owns 18,820 shares of the specialty chemicals company’s stock worth $1,975,000 after buying an additional 8,089 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in International Flavors & Fragrances during the 3rd quarter valued at $576,000. Brooklyn Investment Group bought a new position in International Flavors & Fragrances in the 3rd quarter valued at $88,000. Finally, BNP Paribas Financial Markets lifted its position in shares of International Flavors & Fragrances by 85.2% during the third quarter. BNP Paribas Financial Markets now owns 364,577 shares of the specialty chemicals company’s stock worth $38,255,000 after purchasing an additional 167,698 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Price Performance

The stock’s 50 day moving average price is $82.73 and its 200-day moving average price is $90.16. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $19.54 billion, a PE ratio of 81.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.14. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. As a group, equities analysts forecast that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 21st. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. International Flavors & Fragrances’s dividend payout ratio is currently 170.21%.

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.