Inter Parfums, Inc. (IPAR) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research downgraded 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. “
A number of other research analysts also recently issued reports on the stock. Citigroup Inc. reiterated a buy rating and issued a $45.00 price target (up previously from $42.00) on shares of Inter Parfums in a research note on Thursday, August 10th. DA Davidson reiterated a buy rating and issued a $45.00 price target (up previously from $44.00) on shares of Inter Parfums in a research note on Thursday, August 10th. BidaskClub upgraded shares of Inter Parfums from a hold rating to a buy rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC assumed coverage on shares of Inter Parfums in a research note on Friday, June 2nd. They issued a hold rating and a $35.00 price target for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $42.00.
Inter Parfums (NASDAQ IPAR) opened at 38.55 on Wednesday. The company has a market capitalization of $1.20 billion, a P/E ratio of 29.88 and a beta of 1.77. The company has a 50-day moving average of $37.73 and a 200-day moving average of $36.33. Inter Parfums has a 1-year low of $29.40 and a 1-year high of $41.70.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. The business had revenue of $129.10 million during the quarter, compared to analyst estimates of $122.57 million. During the same quarter last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts expect that Inter Parfums will post $1.28 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.76%. Inter Parfums’s payout ratio is currently 52.31%.
In other Inter Parfums news, CFO Russell Greenberg sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $39.10, for a total transaction of $97,750.00. Following the sale, the chief financial officer now owns 5,500 shares of the company’s stock, valued at $215,050. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 45.40% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Inter Parfums by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 547,489 shares of the company’s stock worth $20,011,000 after buying an additional 4,297 shares during the last quarter. US Bancorp DE boosted its position in shares of Inter Parfums by 45.4% in the first quarter. US Bancorp DE now owns 3,187 shares of the company’s stock worth $116,000 after buying an additional 995 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Inter Parfums by 6.0% in the first quarter. Great West Life Assurance Co. Can now owns 24,053 shares of the company’s stock worth $879,000 after buying an additional 1,356 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Inter Parfums by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 23,058 shares of the company’s stock worth $843,000 after buying an additional 758 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its position in shares of Inter Parfums by 9.1% in the first quarter. Granite Investment Partners LLC now owns 281,818 shares of the company’s stock worth $10,300,000 after buying an additional 23,431 shares during the last quarter. 54.10% of the stock is currently owned by institutional investors and hedge funds.
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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