ValuEngine lowered shares of Inter Parfums (NASDAQ:IPAR) from a buy rating to a hold rating in a research note released on Thursday morning, ValuEngine reports.
Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Inter Parfums from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. DA Davidson raised shares of Inter Parfums from a neutral rating to a buy rating and set a $78.00 price objective on the stock in a research note on Monday, June 10th. Finally, Zacks Investment Research raised shares of Inter Parfums from a hold rating to a buy rating and set a $77.00 price objective on the stock in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Inter Parfums presently has an average rating of Hold and an average target price of $73.50.
Shares of IPAR traded down $3.01 during trading hours on Thursday, hitting $65.07. 5,576 shares of the stock were exchanged, compared to its average volume of 91,104. Inter Parfums has a fifty-two week low of $54.22 and a fifty-two week high of $80.99. The company has a quick ratio of 2.20, a current ratio of 3.10 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $66.38. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 38.04, a P/E/G ratio of 2.95 and a beta of 0.92.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The company 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%. Inter Parfums’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 earnings per share. As a group, equities analysts anticipate that Inter Parfums will post 1.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, June 27th. Inter Parfums’s dividend payout ratio is 64.33%.
In other Inter Parfums news, CEO Jean Madar sold 1,623 shares of Inter Parfums stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $67.01, for a total value of $108,757.23. Following the sale, the chief executive officer now owns 77,007 shares of the company’s stock, valued at $5,160,239.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 58,946 shares of company stock worth $3,959,128. Insiders own 44.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of IPAR. Quadrant Capital Group LLC increased its stake in shares of Inter Parfums by 1,084.4% in the first quarter. Quadrant Capital Group LLC now owns 379 shares of the company’s stock worth $28,000 after purchasing an additional 347 shares in the last quarter. CENTRAL TRUST Co purchased a new position in shares of Inter Parfums in the second quarter worth about $48,000. Marshall Wace North America L.P. purchased a new position in shares of Inter Parfums in the first quarter worth about $136,000. Huntington National Bank grew its stake in Inter Parfums by 13.4% during the second quarter. Huntington National Bank now owns 2,193 shares of the company’s stock valued at $146,000 after acquiring an additional 259 shares in the last quarter. Finally, Quantamental Technologies LLC grew its stake in Inter Parfums by 36.8% in the 1st quarter. Quantamental Technologies LLC now owns 2,188 shares of the company’s stock worth $166,000 after buying an additional 588 shares in the last quarter. Hedge funds and other institutional investors own 54.56% of the company’s stock.
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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