Zacks Investment Research downgraded shares of Inter Parfums (NASDAQ:IPAR) from a hold rating to a sell rating in a report published on Wednesday.
According to Zacks, “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 Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T. Dupont, Repetto, Rochas, Van Cleef & Arpels, Abercrombie & Fitch, Agent Provocateur, Anna Sui, bebe, Dunhill, Hollister, French Connection, Gap, Oscar de la Renta, and Shanghai Tang brands. It markets and sells its products to department stores, perfumeries, specialty retailers, mass market retailers, supermarkets, domestic and international wholesalers, and distributors. The company was formerly known as Jean Philippe Fragrances, Inc. and later changed its name to Inter Parfums, Inc. “
Several other equities research analysts have also weighed in on IPAR. KeyCorp set a $44.00 price target on Inter Parfums and gave the company a buy rating in a research report on Monday, October 16th. DA Davidson lowered Inter Parfums from a buy rating to a neutral rating and set a $49.00 price target on the stock. in a research report on Thursday, October 26th. Sidoti lowered Inter Parfums from a buy rating to a neutral rating in a research report on Thursday, November 2nd. BidaskClub lowered Inter Parfums from a buy rating to a hold rating in a research report on Friday, December 29th. Finally, Citigroup set a $52.00 target price on Inter Parfums and gave the stock a buy rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Inter Parfums currently has a consensus rating of Hold and an average price target of $46.00.
Inter Parfums (NASDAQ IPAR) traded down $0.75 during midday trading on Wednesday, hitting $46.25. The company had a trading volume of 92,734 shares, compared to its average volume of 81,771. The company has a quick ratio of 2.54, a current ratio of 3.39 and a debt-to-equity ratio of 0.07. Inter Parfums has a one year low of $31.45 and a one year high of $47.65. The company has a market capitalization of $1,442.40, a price-to-earnings ratio of 34.01, a PEG ratio of 2.69 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $160.52 million. During the same period in the previous year, the company posted $0.52 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. research analysts predict that Inter Parfums will post 1.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.82%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, December 28th. Inter Parfums’s payout ratio is 63.16%.
In other news, CFO Russell Greenberg sold 3,000 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $45.00, for a total transaction of $135,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Philippe Santi sold 600 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $43.86, for a total value of $26,316.00. Following the transaction, the chief financial officer now directly owns 600 shares in the company, valued at $26,316. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $1,411,666 over the last three months. Corporate insiders own 45.40% of the company’s stock.
Several large investors have recently made changes to their positions in IPAR. Atlanta Capital Management Co. L L C lifted its holdings in shares of Inter Parfums by 14.0% during the second quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock valued at $42,825,000 after purchasing an additional 143,072 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Inter Parfums by 37.1% during the second 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 in the last quarter. Fort Pitt Capital Group LLC lifted its holdings in shares of Inter Parfums by 31.6% during the second 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 in the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Inter Parfums by 781.3% during the second 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 in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Inter Parfums by 65.7% during the second quarter. New York State Common Retirement Fund now owns 151,446 shares of the company’s stock valued at $5,550,000 after purchasing an additional 60,064 shares in the last quarter. 55.39% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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