Zacks Investment Research upgraded shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a hold rating to a buy rating in a research note released on Thursday, October 26th. They currently have $52.00 target price on the stock.
According to Zacks, “Inter Parfums, Inc. is a world-wide provider of prestige perfumes and mass market perfumes and cosmetics. They operate in the fragrance and cosmetic industry, specializing in prestige perfumes and mass market perfumes and cosmetics. “
Other analysts have also recently issued reports about the company. KeyCorp set a $44.00 price target on Inter Parfums and gave the stock a buy rating in a research report on Monday, October 16th. BidaskClub raised Inter Parfums from a hold rating to a buy rating in a research report on Wednesday, June 28th. Citigroup Inc. reissued a buy rating and set a $45.00 price target (up from $42.00) on shares of Inter Parfums in a report on Thursday, August 10th. Finally, DA Davidson reissued a buy rating and set a $45.00 price target (up from $44.00) on shares of Inter Parfums in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $44.50.
Inter Parfums (NASDAQ IPAR) opened at $43.25 on Thursday. The company has a market capitalization of $1,348.84, a PE ratio of 31.80, a PEG ratio of 2.74 and a beta of 1.80. The company has a quick ratio of 2.45, a current ratio of 3.39 and a debt-to-equity ratio of 0.07. Inter Parfums has a twelve month low of $30.45 and a twelve month high of $46.80.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Inter Parfums had a return on equity of 8.06% and a net margin of 7.13%. The company had revenue of $169.50 million for the quarter, compared to the consensus estimate of $160.52 million. During the same quarter in the previous year, the business earned $0.52 EPS. Inter Parfums’s revenue was up 7.6% compared to the same quarter last year. research analysts expect that Inter Parfums will post 1.29 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.17. Inter Parfums’s dividend payout ratio is 51.13%.
In related news, CFO Russell Greenberg sold 2,500 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $39.10, for a total value of $97,750.00. Following the completion of the transaction, the chief financial officer now owns 5,500 shares of the company’s stock, valued at approximately $215,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick Choel sold 750 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $41.59, for a total transaction of $31,192.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,750 shares of company stock valued at $480,483 in the last three months. Insiders own 45.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in Inter Parfums by 1.1% in the first quarter. Arizona State Retirement System now owns 8,909 shares of the company’s stock worth $326,000 after purchasing an additional 100 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Inter Parfums by 1.0% during the second quarter. Texas Permanent School Fund now owns 12,516 shares of the company’s stock worth $459,000 after acquiring an additional 129 shares during the period. Rhumbline Advisers increased its position in shares of Inter Parfums by 0.5% during the second quarter. Rhumbline Advisers now owns 46,668 shares of the company’s stock worth $1,710,000 after acquiring an additional 232 shares during the period. Mason Street Advisors LLC increased its position in shares of Inter Parfums by 7.0% during the first quarter. Mason Street Advisors LLC now owns 4,001 shares of the company’s stock worth $146,000 after acquiring an additional 263 shares during the period. Finally, Thrivent Financial For Lutherans increased its position in shares of Inter Parfums by 3.0% during the first quarter. Thrivent Financial For Lutherans now owns 9,580 shares of the company’s stock worth $350,000 after acquiring an additional 280 shares during the period. 55.87% of the stock is owned by institutional investors and hedge funds.
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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