Inter Parfums Inc. (NASDAQ:IPAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “

A number of other research analysts have also recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $40.00 price target on shares of Inter Parfums in a research report on Friday, August 12th. Citigroup Inc. lifted their price target on shares of Inter Parfums from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. TheStreet raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Brean Capital lifted their price target on shares of Inter Parfums from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and set a $33.00 price target (up from $29.00) on shares of Inter Parfums in a research report on Saturday, August 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $36.71.

Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

Inter Parfums (NASDAQ:IPAR) opened at 31.99 on Wednesday. Inter Parfums has a one year low of $20.37 and a one year high of $35.07. The firm has a market cap of $993.61 million, a price-to-earnings ratio of 34.03 and a beta of 1.68. The stock’s 50 day moving average is $32.87 and its 200 day moving average is $31.05.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm 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 company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, analysts predict that Inter Parfums will post $1.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 annualized dividend and a yield of 1.88%. Inter Parfums’s dividend payout ratio (DPR) is presently 63.16%.

In other news, insider Henry B. Clarke sold 5,582 shares of the business’s 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 transaction, the insider now directly owns 2,707 shares of the company’s stock, valued at $93,391.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Henry B. Clarke sold 12,418 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $34.51, for a total transaction of $428,545.18. Following the transaction, the insider now directly owns 9,125 shares of the company’s stock, valued at $314,903.75. The disclosure for this sale can be found here. 45.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ranger Investment Management L.P. boosted its position in Inter Parfums by 321.5% in the second quarter. Ranger Investment Management L.P. now owns 600,603 shares of the company’s stock valued at $17,159,000 after buying an additional 458,103 shares during the last quarter. Calvert Investment Management Inc. bought a new position in Inter Parfums during the second quarter valued at $5,287,000. Royce & Associates LP boosted its position in Inter Parfums by 43.5% in the first quarter. Royce & Associates LP now owns 509,630 shares of the company’s stock valued at $15,748,000 after buying an additional 154,530 shares during the last quarter. Vanguard Group Inc. boosted its position in Inter Parfums by 5.1% in the second quarter. Vanguard Group Inc. now owns 1,462,937 shares of the company’s stock valued at $41,796,000 after buying an additional 70,921 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Inter Parfums by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,271,914 shares of the company’s stock valued at $36,338,000 after buying an additional 65,197 shares during the last quarter. 54.37% 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.

5 Day Chart for NASDAQ:IPAR

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