Inter Parfums Inc. (IPAR) Hits New 52-Week High at $33.13
Shares of Inter Parfums Inc. (NASDAQ:IPAR) hit a new 52-week high on Tuesday . The stock traded as high as $33.13 and last traded at $32.51, with a volume of 651,789 shares changing hands. The stock had previously closed at $28.30.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Monday, May 30th. B. Riley restated a “neutral” rating and set a $34.00 target price on shares of Inter Parfums in a research note on Thursday, May 12th. Finally, Citigroup Inc. raised their price objective on Inter Parfums from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $36.60.
The company has a 50 day moving average price of $28.95 and a 200 day moving average price of $28.38. The stock has a market capitalization of $1.01 billion and a P/E ratio of 36.40.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, May 10th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.03. The company earned $111.50 million during the quarter, compared to analyst estimates of $110.58 million. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. Analysts expect that Inter Parfums Inc. will post $1.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Tuesday, June 28th.
Several hedge funds recently added to or reduced their stakes in the stock. Eagle Asset Management increased its stake in Inter Parfums by 170.1% in the third quarter. Eagle Asset Management now owns 1,092,044 shares of the company’s stock worth $27,092,000 after buying an additional 687,770 shares in the last quarter. Royce & Associates LLC increased its stake in Inter Parfums by 7.7% in the fourth quarter. Royce & Associates LLC now owns 355,100 shares of the company’s stock worth $8,458,000 after buying an additional 25,500 shares in the last quarter. RidgeWorth Capital Management LLC increased its stake in Inter Parfums by 2.0% in the fourth quarter. RidgeWorth Capital Management LLC now owns 573,999 shares of the company’s stock worth $13,747,000 after buying an additional 11,261 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Inter Parfums by 3.3% in the fourth quarter. Sei Investments Co. now owns 44,486 shares of the company’s stock worth $1,060,000 after buying an additional 1,420 shares in the last quarter.
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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