Inter Parfums Inc. (IPAR) Hits New 1-Year High at $33.13
Inter Parfums Inc. (NASDAQ:IPAR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $33.13 and last traded at $32.51, with a volume of 651,789 shares. The stock had previously closed at $28.30.
Several research firms recently issued reports on IPAR. B. Riley raised shares of Inter Parfums from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $36.00 in a report on Tuesday. Zacks Investment Research raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Sidoti raised shares of Inter Parfums from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, June 28th. Finally, Citigroup Inc. increased their price objective on shares of Inter Parfums from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $36.60.
The stock’s 50 day moving average price is $28.81 and its 200 day moving average price is $28.27. The company has a market capitalization of $1.02 billion and a price-to-earnings ratio of 36.86.
Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, May 10th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.03. During the same quarter last year, the firm posted $0.32 earnings per share. The company earned $111.50 million during the quarter, compared to analysts’ expectations of $110.58 million. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Inter Parfums Inc. will post $1.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.60 annualized dividend and a yield of 2.12%.
Other large investors recently modified their holdings of the company. Eagle Asset Management increased its stake 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. Royce & Associates LLC increased 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 period. RidgeWorth Capital Management LLC increased 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 period. Finally, Sei Investments Co. increased 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 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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