BidaskClub upgraded shares of Inter Parfums (NASDAQ:IPAR) from a hold rating to a buy rating in a research note issued to investors on Tuesday.
Several other brokerages have also recently commented on IPAR. Zacks Investment Research upgraded Inter Parfums from a hold rating to a buy rating and set a $50.00 target price on the stock in a report on Saturday, February 3rd. DA Davidson upgraded Inter Parfums from a neutral rating to a buy rating and upped their target price for the company from $46.00 to $51.00 in a report on Wednesday, January 10th. BWS Financial set a $56.00 target price on Inter Parfums and gave the company a buy rating in a report on Monday, February 26th. Citigroup set a $52.00 target price on Inter Parfums and gave the company a buy rating in a report on Wednesday, January 3rd. Finally, KeyCorp cut Inter Parfums from an overweight rating to a sector weight rating in a report on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $47.67.
Shares of Inter Parfums (NASDAQ IPAR) opened at $47.55 on Tuesday. Inter Parfums has a twelve month low of $34.05 and a twelve month high of $49.30. The company has a market capitalization of $1,490.06, a P/E ratio of 35.49, a P/E/G ratio of 2.56 and a beta of 1.70. The company has a quick ratio of 2.47, a current ratio of 3.29 and a debt-to-equity ratio of 0.06.
Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, March 13th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Inter Parfums had a return on equity of 7.68% and a net margin of 7.03%. The business had revenue of $149.50 million for the quarter, compared to analysts’ expectations of $147.98 million. During the same period in the prior year, the business posted $0.13 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. equities analysts predict that Inter Parfums will post 1.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, March 28th. Inter Parfums’s payout ratio is 62.69%.
In other Inter Parfums news, CFO Philippe Santi sold 4,600 shares of the stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $48.00, for a total transaction of $220,800.00. Following the transaction, the chief financial officer now directly owns 600 shares in the company, valued at approximately $28,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Russell Greenberg sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $47.50, for a total value of $237,500.00. Following the transaction, the chief financial officer now owns 5,000 shares in the company, valued at $237,500. The disclosure for this sale can be found here. Insiders have sold a total of 17,195 shares of company stock worth $819,746 over the last 90 days. Company insiders own 45.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. OxFORD Asset Management LLP bought a new position in shares of Inter Parfums during the 3rd quarter worth approximately $904,000. Ramsey Quantitative Systems acquired a new position in shares of Inter Parfums during the fourth quarter worth approximately $245,000. JPMorgan Chase & Co. raised its position in shares of Inter Parfums by 46.1% during the third quarter. JPMorgan Chase & Co. now owns 44,241 shares of the company’s stock worth $1,863,000 after purchasing an additional 13,965 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Inter Parfums by 36.8% during the third quarter. Municipal Employees Retirement System of Michigan now owns 8,890 shares of the company’s stock worth $366,000 after purchasing an additional 2,390 shares during the period. Finally, Allianz Asset Management GmbH acquired a new position in shares of Inter Parfums during the third quarter worth approximately $268,000. Hedge funds and other institutional investors own 55.05% of the company’s stock.
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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