Inter Parfums (NASDAQ:IPAR) Price Target Lowered to $172.00 at Piper Sandler

Inter Parfums (NASDAQ:IPAR) had its price target lowered by Piper Sandler from $176.00 to $172.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, BWS Financial reiterated a buy rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, April 17th.

Inter Parfums Trading Up 1.3 %

NASDAQ:IPAR opened at $119.56 on Thursday. Inter Parfums has a 52 week low of $116.75 and a 52 week high of $158.13. The firm has a 50 day moving average of $136.61 and a 200 day moving average of $135.37. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 25.17 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $328.74 million during the quarter, compared to analysts’ expectations of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. As a group, sell-side analysts anticipate that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.51%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the sale, the director now owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

Several hedge funds and other institutional investors have recently modified their holdings of IPAR. Victory Capital Management Inc. raised its stake in Inter Parfums by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock worth $1,641,000 after purchasing an additional 81 shares during the period. Comerica Bank increased its position in shares of Inter Parfums by 0.7% during the fourth quarter. Comerica Bank now owns 11,360 shares of the company’s stock valued at $1,636,000 after acquiring an additional 83 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Inter Parfums by 0.8% during the third quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock valued at $1,721,000 after acquiring an additional 100 shares during the last quarter. Signaturefd LLC increased its position in shares of Inter Parfums by 87.4% during the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Inter Parfums by 4.9% during the fourth quarter. Fifth Third Bancorp now owns 2,567 shares of the company’s stock valued at $370,000 after acquiring an additional 120 shares during the last quarter. 55.57% of the stock is owned by hedge funds and other 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 in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.