Inter Parfums Inc. (IPAR) Sees Strong Trading Volume
Inter Parfums Inc. (NASDAQ:IPAR) saw strong trading volume on Wednesday . 191,349 shares traded hands during mid-day trading, an increase of 27% from the previous session’s volume of 150,171 shares.The stock last traded at $32.90 and had previously closed at $33.10.
A number of research analysts have recently weighed in on IPAR shares. Zacks Investment Research raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Monday, May 30th. B. Riley reissued a “neutral” rating and set a $34.00 target price on shares of Inter Parfums in a research report on Thursday, May 12th. Finally, Citigroup Inc. increased their target price on shares of Inter Parfums from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, May 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $36.60.
The firm has a market capitalization of $1.02 billion and a P/E ratio of 36.54. The company has a 50-day moving average of $28.95 and a 200-day moving average of $28.38.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by $0.03. The company had revenue of $111.50 million for the quarter, compared to analyst estimates of $110.58 million. Inter Parfums’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. On average, analysts predict that Inter Parfums Inc. will post $1.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.15 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $0.60 annualized dividend and a yield of 1.83%.
Other hedge funds and institutional investors have recently modified their holdings of the company. Eagle Asset Management boosted its position in shares of Inter Parfums by 170.1% in the third quarter. Eagle Asset Management now owns 1,092,044 shares of the company’s stock valued at $27,092,000 after buying an additional 687,770 shares during the period. RidgeWorth Capital Management LLC boosted its position in shares of Inter Parfums by 2.0% in the fourth quarter. RidgeWorth Capital Management LLC now owns 573,999 shares of the company’s stock valued at $13,747,000 after buying an additional 11,261 shares during the period. Royce & Associates LLC boosted its position in shares of Inter Parfums by 7.7% in the fourth quarter. Royce & Associates LLC now owns 355,100 shares of the company’s stock valued at $8,458,000 after buying an additional 25,500 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Inter Parfums by 3.3% in the fourth quarter. Sei Investments Co. now owns 44,486 shares of the company’s stock valued at $1,060,000 after buying an additional 1,420 shares during the period.
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.
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