Inter Parfums Inc. (IPAR) Reaches New 52-Week High at $35.00
Inter Parfums Inc. (NASDAQ:IPAR) reached a new 52-week high on Monday . The company traded as high as $35.00 and last traded at $34.65, with a volume of 14,230 shares. The stock had previously closed at $34.67.
A number of research firms have issued reports on IPAR. B. Riley raised Inter Parfums from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $36.00 in a report on Tuesday, July 26th. Citigroup Inc. raised their target price on Inter Parfums from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday, May 16th. 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 report on Saturday, August 13th. Finally, Zacks Investment Research raised Inter Parfums from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Thursday, July 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.71.
The company has a 50 day moving average price of $32.04 and a 200 day moving average price of $29.81. The stock has a market capitalization of $1.08 billion and a P/E ratio of 36.91.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. During the same quarter in the previous year, the company posted $0.14 EPS. The company had revenue of $117.20 million for the quarter, compared to the consensus estimate of $116.16 million. The business’s revenue was up 14.9% on a year-over-year basis. Analysts expect that Inter Parfums Inc. will post $1.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.60 annualized dividend and a yield of 1.73%.
In other Inter Parfums news, CFO Russell Greenberg sold 12,323 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $34.62, for a total transaction of $426,622.26. Following the transaction, the chief financial officer now owns 3,000 shares of the company’s stock, valued at $103,860. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Henry B. Clarke sold 12,418 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $34.51, for a total value of $428,545.18. Following the transaction, the insider now directly owns 9,125 shares in the company, valued at approximately $314,903.75. 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.