Citigroup Analysts Give Inter Parfums (IPAR) a $52.00 Price Target

Citigroup set a $52.00 price target on Inter Parfums (NASDAQ:IPAR) in a research note released on Wednesday. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on IPAR. Sidoti cut shares of Inter Parfums from a buy rating to a neutral rating in a research note on Thursday, November 2nd. DA Davidson cut shares of Inter Parfums from a buy rating to a neutral rating and set a $49.00 price target on the stock. in a research note on Thursday, October 26th. Zacks Investment Research upgraded shares of Inter Parfums from a hold rating to a buy rating and set a $52.00 price target on the stock in a research note on Thursday, October 26th. BidaskClub cut shares of Inter Parfums from a buy rating to a hold rating in a research note on Friday, December 29th. Finally, KeyCorp set a $44.00 price target on shares of Inter Parfums and gave the stock a buy rating in a research note on Monday, October 16th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $45.17.

Shares of Inter Parfums (NASDAQ:IPAR) traded up $0.45 during trading on Wednesday, reaching $43.60. 76,255 shares of the company were exchanged, compared to its average volume of 71,631. The company has a market cap of $1,359.75, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.53 and a beta of 1.77. Inter Parfums has a 52 week low of $31.45 and a 52 week high of $46.80. The company has a current ratio of 3.39, a quick ratio of 2.54 and a debt-to-equity ratio of 0.07.

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, topping the Zacks’ consensus estimate of $0.50 by $0.05. The company had revenue of $169.50 million for the quarter, compared to analysts’ expectations of $160.52 million. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. Inter Parfums’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. research analysts anticipate that Inter Parfums will post 1.29 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be given a $0.21 dividend. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Inter Parfums’s payout ratio is 63.16%.

In other Inter Parfums news, insider Philippe Benacin sold 19,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $43.97, for a total value of $835,430.00. Following the completion of the transaction, the insider now owns 74,876 shares of the company’s stock, valued at approximately $3,292,297.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Torres Robert Bensoussan sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $42.09, for a total value of $252,540.00. The disclosure for this sale can be found here. In the last three months, insiders sold 38,000 shares of company stock valued at $1,664,206. 45.40% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of IPAR. Atlanta Capital Management Co. L L C raised its position in Inter Parfums by 14.0% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock worth $42,825,000 after buying an additional 143,072 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Inter Parfums by 227.9% during the 2nd quarter. Systematic Financial Management LP now owns 178,344 shares of the company’s stock valued at $6,536,000 after purchasing an additional 123,954 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Inter Parfums by 37.1% during the 2nd quarter. Renaissance Technologies LLC now owns 343,713 shares of the company’s stock valued at $12,597,000 after purchasing an additional 93,100 shares during the last quarter. Fort Pitt Capital Group LLC increased its position in shares of Inter Parfums by 31.6% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 386,988 shares of the company’s stock valued at $14,183,000 after purchasing an additional 92,965 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Inter Parfums by 781.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 84,430 shares of the company’s stock valued at $3,094,000 after purchasing an additional 74,850 shares during the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

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