Zacks Investment Research upgraded shares of Inter Parfums (NASDAQ:IPAR) from a sell rating to a buy rating in a research note released on Tuesday. The firm currently has $53.00 price objective on the stock.
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 research analysts also recently weighed in on the company. DA Davidson upgraded Inter Parfums from a neutral rating to a buy rating and upped their price target for the stock from $46.00 to $51.00 in a research note on Wednesday, January 10th. Citigroup set a $52.00 target price on Inter Parfums and gave the company a buy rating in a research report on Wednesday, January 3rd. BidaskClub downgraded Inter Parfums from a buy rating to a hold rating in a research report on Friday, December 29th. Sidoti downgraded Inter Parfums from a buy rating to a neutral rating in a research report on Thursday, November 2nd. Finally, KeyCorp set a $44.00 target price on Inter Parfums and gave the company a buy rating in a research report on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $46.17.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, topping 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 business had revenue of $169.50 million during the quarter, compared to the consensus estimate of $160.52 million. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities analysts anticipate that Inter Parfums will post 1.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were given a dividend of $0.21 per share. This is an increase from Inter Parfums’s previous quarterly dividend of $0.17. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Thursday, December 28th. Inter Parfums’s dividend payout ratio is currently 63.16%.
In related news, insider Pelayo Frederic Garcia sold 1,200 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $45.10, for a total transaction of $54,120.00. Following the sale, the insider now owns 1,200 shares in the company, valued at approximately $54,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Russell Greenberg sold 7,595 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $47.59, for a total value of $361,446.05. Following the sale, the chief financial officer now owns 5,000 shares in the company, valued at approximately $237,950. The disclosure for this sale can be found here. Insiders have sold a total of 44,595 shares of company stock valued at $2,010,612 over the last quarter. Corporate insiders own 45.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in IPAR. Schwab Charles Investment Management Inc. raised its holdings in Inter Parfums by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 73,261 shares of the company’s stock valued at $2,686,000 after buying an additional 418 shares during the period. Rhumbline Advisers raised its holdings in Inter Parfums by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 46,668 shares of the company’s stock valued at $1,710,000 after buying an additional 232 shares during the period. Legal & General Group Plc raised its holdings in Inter Parfums by 7.9% during the 2nd quarter. Legal & General Group Plc now owns 30,940 shares of the company’s stock valued at $1,133,000 after buying an additional 2,276 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Inter Parfums by 70.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,733 shares of the company’s stock valued at $247,000 after buying an additional 2,779 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Inter Parfums by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,097 shares of the company’s stock valued at $150,000 after buying an additional 614 shares during the period. Institutional investors own 55.39% of the company’s stock.
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Inter Parfums Company Profile
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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