Zacks Investment Research cut shares of Inter Parfums Inc. (NASDAQ:IPAR) from a buy rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Inter Parfums, Inc. is a world-wide provider of prestige perfumes and mass market perfumes and cosmetics. They operate in the fragrance and cosmetic industry, specializing in prestige perfumes and mass market perfumes and cosmetics. “
IPAR has been the topic of a number of other reports. B. Riley restated a buy rating and issued a $40.00 target price on shares of Inter Parfums in a report on Wednesday, August 17th. TheStreet raised shares of Inter Parfums from a hold rating to a buy rating in a research note on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed a neutral rating and set a $33.00 price objective (up previously from $29.00) on shares of Inter Parfums in a research note on Saturday, August 13th. Citigroup Inc. upped their price objective on shares of Inter Parfums from $35.00 to $40.00 and gave the company a buy rating in a research note on Thursday, August 11th. Finally, Brean Capital upped their price objective on shares of Inter Parfums from $36.00 to $40.00 and gave the company a buy rating in a research note on Monday, August 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $36.71.
Inter Parfums (NASDAQ:IPAR) opened at 31.79 on Wednesday. The company has a 50-day moving average of $32.64 and a 200-day moving average of $31.07. The stock has a market cap of $987.40 million, a P/E ratio of 33.82 and a beta of 1.68. Inter Parfums has a 52 week low of $20.37 and a 52 week high of $35.07.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $117.20 million for the quarter, compared to analyst estimates of $116.16 million. Inter Parfums had a net margin of 6.02% and a return on equity of 6.27%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. On average, analysts predict that Inter Parfums will post $1.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, September 28th. Inter Parfums’s dividend payout ratio (DPR) is presently 63.16%.
In related news, insider Henry B. Clarke sold 5,582 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $34.50, for a total transaction of $192,579.00. Following the completion of the sale, the insider now owns 2,707 shares of the company’s stock, valued at approximately $93,391.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Russell Greenberg sold 2,677 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $34.80, for a total transaction of $93,159.60. Following the sale, the chief financial officer now directly owns 677 shares of the company’s stock, valued at approximately $23,559.60. The disclosure for this sale can be found here. Corporate insiders own 45.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of IPAR. Bank of Montreal Can purchased a new stake in shares of Inter Parfums during the second quarter valued at about $111,000. Tower Research Capital LLC TRC purchased a new stake in shares of Inter Parfums during the second quarter valued at about $115,000. Huntington National Bank increased its stake in shares of Inter Parfums by 5.6% in the second quarter. Huntington National Bank now owns 4,679 shares of the company’s stock valued at $134,000 after buying an additional 249 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Inter Parfums by 80.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,893 shares of the company’s stock valued at $168,000 after buying an additional 2,634 shares during the period. Finally, KCG Holdings Inc. purchased a new stake in shares of Inter Parfums during the second quarter valued at about $219,000. 54.36% of the stock is owned by hedge funds and other institutional investors.
Inter Parfums Company Profile
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.