Inter Parfums Inc. (IPAR) Hits New 12-Month High at $35.00
Inter Parfums Inc. (NASDAQ:IPAR) reached a new 52-week high during trading on Monday . The company traded as high as $35.00 and last traded at $34.65, with a volume of 14,230 shares traded. The stock had previously closed at $34.67.
A number of research firms have commented on IPAR. 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 reaffirmed a “buy” rating and issued a $40.00 target price on shares of Inter Parfums in a research report on Wednesday, August 17th. TheStreet raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Citigroup Inc. lifted their target price on shares of Inter Parfums from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $33.00 target price (up previously from $29.00) on shares of Inter Parfums in a research report on Saturday, August 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.71.
The firm has a market capitalization of $1.08 billion and a PE ratio of 36.91. The stock’s 50 day moving average price is $32.41 and its 200 day moving average price is $30.01.
Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, August 9th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $116.16 million. The company’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. On average, analysts forecast that Inter Parfums Inc. will post $1.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.73%.
In related news, insider Henry B. Clarke sold 5,582 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $34.50, for a total transaction of $192,579.00. Following the completion of the sale, the insider now owns 2,707 shares of the company’s stock, valued at $93,391.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Russell Greenberg sold 12,323 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $34.62, for a total transaction of $426,622.26. Following the sale, the chief financial officer now directly owns 3,000 shares of the company’s stock, valued at approximately $103,860. The disclosure for this sale can be found here.
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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