Inter Parfums Inc. (IPAR) Receives $36.71 Average Price Target from Brokerages
Shares of Inter Parfums Inc. (NASDAQ:IPAR) have been given an average recommendation of “Buy” by the eight brokerages that are covering the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $36.71.
Several equities research analysts have issued reports on IPAR shares. B. Riley restated a “buy” rating and set a $40.00 price objective on shares of Inter Parfums in a research report on Friday, August 12th. TheStreet raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Citigroup Inc. raised their target price on shares of Inter Parfums from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Brean Capital raised their target price on shares of Inter Parfums from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 15th. Finally, Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, October 26th.
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Inter Parfums (NASDAQ:IPAR) opened at 34.65 on Friday. The stock has a 50 day moving average price of $32.39 and a 200 day moving average price of $31.40. Inter Parfums has a one year low of $20.37 and a one year high of $35.07. The firm has a market capitalization of $1.08 billion, a P/E ratio of 34.65 and a beta of 1.63.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The firm earned $157.60 million during the quarter, compared to the consensus estimate of $155.23 million. Inter Parfums had a net margin of 6.20% and a return on equity of 6.62%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. On average, equities analysts predict that Inter Parfums will post $1.10 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.96%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, December 28th. Inter Parfums’s dividend payout ratio (DPR) is 59.41%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of Inter Parfums by 5.3% in the first quarter. JPMorgan Chase & Co. now owns 26,579 shares of the company’s stock worth $821,000 after buying an additional 1,347 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Inter Parfums by 36.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 15,155 shares of the company’s stock worth $433,000 after buying an additional 4,030 shares during the last quarter. OLD National Bancorp IN boosted its stake in Inter Parfums by 0.6% in the second quarter. OLD National Bancorp IN now owns 19,675 shares of the company’s stock worth $562,000 after buying an additional 116 shares during the last quarter. Royce & Associates LP boosted its stake in Inter Parfums by 5.5% in the second quarter. Royce & Associates LP now owns 537,830 shares of the company’s stock worth $15,366,000 after buying an additional 28,200 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its stake in Inter Parfums by 10.0% in the second quarter. Suntrust Banks Inc. now owns 42,946 shares of the company’s stock worth $1,226,000 after buying an additional 3,915 shares during the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.
About Inter Parfums
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.
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