Inter Parfums (NASDAQ:IPAR) released its quarterly earnings data on Monday. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02, Briefing.com reports. Inter Parfums had a net margin of 7.54% and a return on equity of 8.37%. The firm had revenue of $177.21 million for the quarter, compared to the consensus estimate of $181.14 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. Inter Parfums updated its FY 2018 guidance to $1.61-1.61 EPS and its FY18 guidance to approx $1.61 EPS.
NASDAQ IPAR traded down $1.03 during trading hours on Wednesday, reaching $60.41. 4,190 shares of the company were exchanged, compared to its average volume of 84,998. Inter Parfums has a 1 year low of $41.30 and a 1 year high of $67.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.18 and a current ratio of 3.17. The company has a market capitalization of $1.89 billion, a PE ratio of 45.42, a price-to-earnings-growth ratio of 3.05 and a beta of 1.30.
In other Inter Parfums news, CFO Philippe Santi sold 3,600 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $10,523.10, for a total transaction of $37,883,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Russell Greenberg sold 1,059 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $66.50, for a total transaction of $70,423.50. Following the transaction, the chief financial officer now owns 44 shares of the company’s stock, valued at approximately $2,926. The disclosure for this sale can be found here. Insiders have sold 8,259 shares of company stock valued at $38,188,304 in the last 90 days. 45.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Virginia Retirement Systems ET AL bought a new position in Inter Parfums during the third quarter worth about $993,000. WINTON GROUP Ltd boosted its position in shares of Inter Parfums by 32.3% in the third quarter. WINTON GROUP Ltd now owns 13,698 shares of the company’s stock valued at $883,000 after acquiring an additional 3,347 shares during the period. Wells Fargo & Company MN boosted its position in shares of Inter Parfums by 8.6% in the third quarter. Wells Fargo & Company MN now owns 40,917 shares of the company’s stock valued at $2,638,000 after acquiring an additional 3,242 shares during the period. Moody Aldrich Partners LLC boosted its position in shares of Inter Parfums by 45.7% in the third quarter. Moody Aldrich Partners LLC now owns 90,049 shares of the company’s stock valued at $5,804,000 after acquiring an additional 28,233 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Inter Parfums by 10.7% in the third quarter. First Trust Advisors LP now owns 82,189 shares of the company’s stock valued at $5,297,000 after acquiring an additional 7,961 shares during the period. Hedge funds and other institutional investors own 56.37% of the company’s stock.
Several brokerages have recently commented on IPAR. BidaskClub upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating in a report on Tuesday, September 25th. Zacks Investment Research downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. DA Davidson increased their target price on shares of Inter Parfums to $72.00 and gave the company a “buy” rating in a report on Friday, August 10th. Finally, BWS Financial raised their price objective on shares of Inter Parfums to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.80.
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About Inter Parfums
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.
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