Zacks Investment Research lowered shares of Inter Parfums (NASDAQ:IPAR) from a buy rating to a hold rating in a research note published on Friday.

According to Zacks, “Inter Parfums, Inc. is a premier fragrance company with a diverse portfolio of prestige brands. They has been selected as the fragrance and beauty partner for a growing list of brands that include Abercrombie & Fitch, Agent Provocateur, Anna Sui, bebe, Boucheron, Coach, Dunhill, Hollister, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Oscar de la Renta, Paul Smith, Repetto, Rochas, Shanghai Tang, S.T. Dupont and Van Cleef & Arpels. Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes worldwide. “

Several other research analysts also recently weighed in on IPAR. BidaskClub upgraded shares of Inter Parfums from a hold rating to a buy rating in a research note on Thursday, July 19th. DA Davidson upped their target price on shares of Inter Parfums to $72.00 and gave the company a buy rating in a research note on Friday, August 10th. Jefferies Financial Group set a $60.00 target price on shares of Inter Parfums and gave the company a hold rating in a research note on Wednesday, August 8th. BWS Financial upped their target price on shares of Inter Parfums from $56.00 to $65.00 and gave the company a buy rating in a research note on Wednesday, July 25th. Finally, Citigroup set a $64.00 target price on shares of Inter Parfums and gave the company a hold rating in a research note on Wednesday, November 7th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $67.80.

IPAR opened at $58.98 on Friday. The company has a quick ratio of 2.37, a current ratio of 3.36 and a debt-to-equity ratio of 0.05. Inter Parfums has a 52-week low of $41.30 and a 52-week high of $67.50. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 44.35, a price-to-earnings-growth ratio of 3.05 and a beta of 1.30.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Monday, November 5th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $177.21 million during the quarter, compared to the consensus estimate of $181.14 million. Inter Parfums had a net margin of 7.74% and a return on equity of 8.60%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, research analysts predict that Inter Parfums will post 1.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.10 annualized dividend and a dividend yield of 1.87%. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.21. Inter Parfums’s dividend payout ratio is currently 63.16%.

In other news, CFO Russell Greenberg sold 1,059 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $66.50, for a total transaction of $70,423.50. Following the completion of the transaction, the chief financial officer now owns 44 shares in the company, valued at approximately $2,926. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Pelayo Frederic Garcia sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $65.20, for a total transaction of $234,720.00. Following the transaction, the insider now owns 1,000 shares of the company’s stock, valued at approximately $65,200. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of IPAR. Cortina Asset Management LLC lifted its stake in Inter Parfums by 36.9% during the second quarter. Cortina Asset Management LLC now owns 458,351 shares of the company’s stock valued at $24,522,000 after buying an additional 123,582 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Inter Parfums by 133.1% during the second quarter. Acadian Asset Management LLC now owns 180,051 shares of the company’s stock valued at $9,632,000 after buying an additional 102,817 shares in the last quarter. Fort Pitt Capital Group LLC lifted its stake in Inter Parfums by 20.0% during the second quarter. Fort Pitt Capital Group LLC now owns 458,223 shares of the company’s stock valued at $24,515,000 after buying an additional 76,327 shares in the last quarter. TD Asset Management Inc. purchased a new stake in Inter Parfums during the second quarter valued at about $3,542,000. Finally, First Trust Advisors LP lifted its stake in Inter Parfums by 798.3% during the second quarter. First Trust Advisors LP now owns 74,228 shares of the company’s stock valued at $3,971,000 after buying an additional 65,965 shares in the last quarter. 54.11% of the stock is owned by institutional investors.

Inter Parfums Company Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.

See Also: Return on Equity (ROE)

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