Inter Parfums Inc. (IPAR) Stock Rating Lowered by Zacks Investment Research
Inter Parfums Inc. (NASDAQ:IPAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Inter Parfums, Inc. is a world-wide provider of prestige perfumes and mass market perfumes and cosmetics. They operate in the fragrance and cosmetic industry, specializing in prestige perfumes and mass market perfumes and cosmetics. “
A number of other equities research analysts have also recently issued reports on the stock. Brean Capital lifted their price target on shares of Inter Parfums from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Sidoti raised shares of Inter Parfums from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, June 28th. TheStreet raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. Citigroup Inc. lifted their price target on shares of Inter Parfums from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, B. Riley raised shares of Inter Parfums to a “buy” rating and set a $36.00 price target on the stock in a research note on Sunday, July 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $36.71.
Inter Parfums (NASDAQ:IPAR) opened at 31.99 on Wednesday. Inter Parfums has a 52-week low of $20.37 and a 52-week high of $35.07. The firm has a 50 day moving average of $32.87 and a 200-day moving average of $31.05. The company has a market capitalization of $993.61 million, a price-to-earnings ratio of 34.03 and a beta of 1.68.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Inter Parfums had a net margin of 6.02% and a return on equity of 6.27%. The business had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $116.16 million. During the same quarter last year, the company earned $0.14 EPS. The business’s revenue was up 14.9% on a year-over-year basis. Equities analysts expect that Inter Parfums will post $1.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 annualized dividend and a yield of 1.88%. Inter Parfums’s dividend payout ratio (DPR) is presently 63.16%.
In other news, insider Henry B. Clarke sold 12,418 shares of Inter Parfums stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $34.51, for a total transaction of $428,545.18. Following the transaction, the insider now owns 9,125 shares in the company, valued at approximately $314,903.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Russell Greenberg sold 12,323 shares of Inter Parfums stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $34.62, for a total value of $426,622.26. Following the transaction, the chief financial officer now owns 3,000 shares in the company, valued at approximately $103,860. The disclosure for this sale can be found here. Company insiders own 45.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of IPAR. Suntrust Banks Inc. raised its position in Inter Parfums by 10.0% in the second quarter. Suntrust Banks Inc. now owns 42,946 shares of the company’s stock valued at $1,226,000 after buying an additional 3,915 shares in the last quarter. California State Teachers Retirement System raised its position in Inter Parfums by 1.9% in the second quarter. California State Teachers Retirement System now owns 36,637 shares of the company’s stock valued at $1,047,000 after buying an additional 689 shares in the last quarter. Huntington National Bank raised its position in Inter Parfums by 5.6% in the second quarter. Huntington National Bank now owns 4,679 shares of the company’s stock valued at $134,000 after buying an additional 249 shares in the last quarter. Strs Ohio raised its position in Inter Parfums by 7.0% in the second quarter. Strs Ohio now owns 24,400 shares of the company’s stock valued at $697,000 after buying an additional 1,600 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Inter Parfums during the second quarter valued at approximately $111,000. Institutional investors and hedge funds own 54.37% of the company’s stock.
Inter Parfums Company Profile
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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