Inter Parfums (IPAR) Given Average Recommendation of “Buy” by Brokerages

Shares of Inter Parfums (NASDAQ:IPAR) have been given a consensus rating of “Buy” by the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $50.40.

IPAR has been the subject of a number of recent research reports. ValuEngine lowered Inter Parfums from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Zacks Investment Research raised Inter Parfums from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, April 4th. BidaskClub raised Inter Parfums from a “sell” rating to a “hold” rating in a report on Saturday, March 10th. Finally, BWS Financial set a $56.00 price objective on Inter Parfums and gave the stock a “buy” rating in a report on Monday, February 26th.

In other news, insider Pelayo Frederic Garcia sold 6,400 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $46.43, for a total value of $297,152.00. Following the transaction, the insider now owns 1,200 shares in the company, valued at approximately $55,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philippe Benacin sold 27,953 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The stock was sold at an average price of $47.84, for a total value of $1,337,271.52. Following the completion of the transaction, the insider now owns 55,376 shares in the company, valued at approximately $2,649,187.84. The disclosure for this sale can be found here. Insiders sold a total of 42,804 shares of company stock worth $2,044,231 in the last 90 days. Company insiders own 45.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in IPAR. Cortina Asset Management LLC purchased a new position in shares of Inter Parfums in the 1st quarter worth approximately $15,784,000. Ceredex Value Advisors LLC purchased a new position in Inter Parfums in the first quarter valued at approximately $10,730,000. BlackRock Inc. lifted its stake in Inter Parfums by 5.3% in the first quarter. BlackRock Inc. now owns 2,921,288 shares of the company’s stock valued at $137,738,000 after purchasing an additional 147,769 shares during the last quarter. WBI Investments Inc. lifted its stake in Inter Parfums by 314.7% in the first quarter. WBI Investments Inc. now owns 47,860 shares of the company’s stock valued at $2,257,000 after purchasing an additional 36,320 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Inter Parfums by 738.5% in the first quarter. PNC Financial Services Group Inc. now owns 39,344 shares of the company’s stock valued at $1,855,000 after purchasing an additional 34,652 shares during the last quarter. Hedge funds and other institutional investors own 54.81% of the company’s stock.

IPAR traded up $0.60 during midday trading on Thursday, reaching $48.30. 205,300 shares of the company were exchanged, compared to its average volume of 114,180. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.53 and a current ratio of 3.36. The firm has a market capitalization of $1.49 billion, a P/E ratio of 36.32, a P/E/G ratio of 2.44 and a beta of 1.58. Inter Parfums has a one year low of $47.95 and a one year high of $48.75.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $171.77 million during the quarter, compared to analyst estimates of $159.85 million. Inter Parfums had a return on equity of 7.80% and a net margin of 7.12%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. equities analysts forecast that Inter Parfums will post 1.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be paid a $0.21 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.74%. Inter Parfums’s payout ratio is presently 63.16%.

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.

Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

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