Inter Parfums, Inc. (IPAR) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a sell rating to a hold rating in a research report released on Thursday morning.
IPAR has been the topic of several other reports. DA Davidson reaffirmed a buy rating and set a $44.00 price objective on shares of Inter Parfums in a research report on Monday, May 8th. B. Riley increased their price objective on Inter Parfums from $40.00 to $42.00 and gave the company a buy rating in a research report on Wednesday, March 15th. Jefferies Group LLC started coverage on Inter Parfums in a research report on Friday, June 2nd. They set a hold rating and a $35.00 price objective on the stock. Finally, Zacks Investment Research raised Inter Parfums from a sell rating to a hold rating in a research report on Tuesday, February 28th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $38.88.
Inter Parfums (NASDAQ:IPAR) opened at 36.10 on Thursday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 28.65 and a beta of 1.79. Inter Parfums has a 12-month low of $27.05 and a 12-month high of $41.70. The firm’s 50-day moving average is $35.92 and its 200-day moving average is $35.04.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, May 9th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Inter Parfums had a return on equity of 8.10% and a net margin of 7.12%. The firm had revenue of $143.10 million for the quarter, compared to analysts’ expectations of $120.05 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Analysts predict that Inter Parfums will post $1.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.88%. Inter Parfums’s dividend payout ratio (DPR) is presently 53.54%.
Several large investors have recently added to or reduced their stakes in the stock. First National Bank of Omaha boosted its position in shares of Inter Parfums by 21.4% in the first quarter. First National Bank of Omaha now owns 21,530 shares of the company’s stock valued at $787,000 after buying an additional 3,793 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Inter Parfums during the first quarter valued at about $1,905,000. Stifel Financial Corp boosted its position in shares of Inter Parfums by 19.3% in the first quarter. Stifel Financial Corp now owns 317,683 shares of the company’s stock valued at $11,621,000 after buying an additional 51,434 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Inter Parfums during the fourth quarter valued at about $230,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Inter Parfums during the fourth quarter valued at about $736,000. 55.56% of the stock is currently owned by institutional investors.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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