Inter Parfums Inc. (IPAR) Sets New 52-Week High at $33.95
Inter Parfums Inc. (NASDAQ:IPAR)’s share price reached a new 52-week high on Monday . The stock traded as high as $33.95 and last traded at $33.80, with a volume of 69,464 shares trading hands. The stock had previously closed at $32.54.
Several equities analysts have recently weighed in on IPAR shares. Citigroup Inc. lifted their price objective on Inter Parfums from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, May 16th. B. Riley raised Inter Parfums from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $36.00 in a research note on Tuesday, July 26th. Sidoti raised Inter Parfums from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, June 28th. Finally, Zacks Investment Research raised Inter Parfums from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Inter Parfums has an average rating of “Buy” and an average target price of $36.67.
The company’s 50 day moving average is $29.06 and its 200 day moving average is $28.49. The company has a market cap of $1.07 billion and a price-to-earnings ratio of 38.59.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.03. The company earned $111.50 million during the quarter, compared to analysts’ expectations of $110.58 million. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. Analysts predict that Inter Parfums Inc. will post $1.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.74%. The ex-dividend date was Tuesday, June 28th.
A number of hedge funds and institutional investors have bought and sold shares of IPAR. Eagle Asset Management raised its position in 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 last quarter. Sei Investments Co. raised its position in 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. Finally, Royce & Associates LLC raised its position in 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.
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.