Inter Parfums Inc. (IPAR) Sees Large Volume Increase
Inter Parfums Inc. (NASDAQ:IPAR) shares saw strong trading volume on Tuesday . 80,313 shares traded hands during mid-day trading, a decline of 26% from the previous session’s volume of 108,869 shares.The stock last traded at $27.82 and had previously closed at $28.52.
Several equities research analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $37.00 target price on shares of Inter Parfums in a research report on Sunday, March 20th. Sidoti raised Inter Parfums from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, June 28th. Citigroup Inc. increased their target price on Inter Parfums from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, May 16th. Finally, Zacks Investment Research raised Inter Parfums from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $35.33.
The firm has a market capitalization of $858.05 million and a P/E ratio of 30.87. The stock has a 50-day moving average of $29.18 and a 200-day moving average of $27.85.
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 the Zacks’ consensus estimate of $0.31 by $0.03. During the same quarter in the prior year, the business earned $0.32 earnings per share. The business earned $111.50 million during the quarter, compared to analysts’ expectations of $110.58 million. The firm’s revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Inter Parfums Inc. will post $1.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, June 28th.
In other Inter Parfums news, CFO Russell Greenberg sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, April 15th. The stock was sold at an average price of $31.19, for a total value of $218,330.00. Following the sale, the chief financial officer now owns 1,700 shares of the company’s stock, valued at approximately $53,023. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Philippe Santi sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $30.63, for a total value of $91,890.00. Following the completion of the sale, the chief financial officer now directly owns 600 shares in the company, valued at approximately $18,378. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in IPAR. Sei Investments Co. raised its stake 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 last quarter. Wells Fargo & Company MN raised its stake in shares of Inter Parfums by 278.8% in the fourth quarter. Wells Fargo & Company MN now owns 74,050 shares of the company’s stock valued at $1,764,000 after buying an additional 54,502 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Inter Parfums by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 112,244 shares of the company’s stock valued at $2,674,000 after buying an additional 4,943 shares during the last quarter. Royce & Associates LLC raised its stake 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 last quarter. Finally, RidgeWorth Capital Management LLC raised its stake 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 last quarter.
Inter Parfums, Inc operates in the fragrance business, and manufacture, markets and distributes an array of fragrances and fragrance related products. The Company operates in two segments: European-based operations and United States-based operations. The Company produces and distributes prestige fragrance products primarily under license agreements with brand owners, and prestige product sales through its European operations.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.