BidaskClub Downgrades Inter Parfums (NASDAQ:IPAR) to Strong Sell

BidaskClub lowered shares of Inter Parfums (NASDAQ:IPAR) from a sell rating to a strong sell rating in a report issued on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the stock. DA Davidson raised shares of Inter Parfums from a neutral rating to a buy rating and set a $78.00 price target for the company in a research report on Monday. Zacks Investment Research cut shares of Inter Parfums from a strong-buy rating to a hold rating in a research report on Wednesday, May 8th. Citigroup increased their price target on shares of Inter Parfums from $64.00 to $79.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Finally, Raymond James increased their price target on shares of Inter Parfums from $68.00 to $82.00 and gave the company an outperform rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $74.00.

Shares of IPAR opened at $67.09 on Tuesday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.10 and a quick ratio of 2.20. Inter Parfums has a twelve month low of $52.65 and a twelve month high of $80.99.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The business had revenue of $178.20 million during the quarter, compared to analysts’ expectations of $188.27 million. Inter Parfums had a net margin of 8.32% and a return on equity of 9.69%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 EPS. As a group, equities research analysts forecast that Inter Parfums will post 1.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.10 annualized dividend and a yield of 1.64%. Inter Parfums’s payout ratio is currently 64.33%.

Several large investors have recently bought and sold shares of IPAR. Norges Bank purchased a new stake in shares of Inter Parfums in the 4th quarter worth about $9,528,000. Wells Fargo & Company MN lifted its position in shares of Inter Parfums by 214.8% in the 1st quarter. Wells Fargo & Company MN now owns 138,083 shares of the company’s stock worth $10,477,000 after purchasing an additional 94,213 shares during the period. Stifel Financial Corp lifted its position in shares of Inter Parfums by 40.0% in the 4th quarter. Stifel Financial Corp now owns 291,448 shares of the company’s stock worth $19,112,000 after purchasing an additional 83,257 shares during the period. Marshall Wace LLP purchased a new stake in shares of Inter Parfums in the 1st quarter worth about $5,917,000. Finally, Fort Pitt Capital Group LLC lifted its position in shares of Inter Parfums by 14.0% in the 4th quarter. Fort Pitt Capital Group LLC now owns 515,915 shares of the company’s stock worth $33,829,000 after purchasing an additional 63,286 shares during the period. 55.38% 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. 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.

Featured Article: Recession

Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

Receive News & Ratings for Inter Parfums Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inter Parfums and related companies with MarketBeat.com's FREE daily email newsletter.