BidaskClub downgraded shares of Inter Parfums (NASDAQ:IPAR) from a hold rating to a sell rating in a research report report published on Friday morning.
A number of other research analysts have also weighed in on IPAR. Zacks Investment Research lowered shares of Inter Parfums from a buy rating to a hold rating in a research report on Wednesday. DA Davidson boosted their target price on shares of Inter Parfums to $72.00 and gave the stock a buy rating in a research report on Friday, August 10th. Jefferies Financial Group set a $60.00 target price on shares of Inter Parfums and gave the stock a hold rating in a research report on Wednesday, August 8th. BWS Financial boosted their target price on shares of Inter Parfums from $56.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, July 25th. Finally, Citigroup boosted their target price on shares of Inter Parfums from $50.00 to $66.00 and gave the stock a neutral rating in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $65.33.
Inter Parfums stock traded down $0.85 on Friday, reaching $56.17. 78,221 shares of the stock were exchanged, compared to its average volume of 102,672. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 42.23, a P/E/G ratio of 3.30 and a beta of 1.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.17 and a quick ratio of 2.18. Inter Parfums has a twelve month low of $39.10 and a twelve month high of $67.50.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, August 7th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.09. The firm had revenue of $149.37 million during the quarter, compared to analyst estimates of $149.42 million. Inter Parfums had a net margin of 7.54% and a return on equity of 8.37%. As a group, sell-side analysts expect that Inter Parfums will post 1.6 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, September 27th. Inter Parfums’s dividend payout ratio is currently 63.16%.
In other news, insider Pelayo Frederic Garcia sold 3,600 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $65.20, for a total transaction of $234,720.00. Following the completion of the transaction, the insider now owns 1,000 shares of the company’s stock, valued at $65,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Russell Greenberg sold 1,059 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $66.50, for a total transaction of $70,423.50. Following the transaction, the chief financial officer now directly owns 44 shares of the company’s stock, valued at approximately $2,926. The disclosure for this sale can be found here. Insiders have sold 8,259 shares of company stock valued at $38,188,304 in the last ninety days. 45.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in IPAR. SG Americas Securities LLC acquired a new position in shares of Inter Parfums during the first quarter valued at about $119,000. Itau Unibanco Holding S.A. acquired a new position in shares of Inter Parfums during the second quarter valued at about $150,000. BB&T Securities LLC bought a new stake in Inter Parfums in the first quarter valued at about $202,000. Piedmont Investment Advisors LLC bought a new stake in Inter Parfums in the second quarter valued at about $215,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Inter Parfums in the second quarter valued at about $241,000. 56.47% of the stock is owned by institutional investors and hedge funds.
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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