BidaskClub upgraded shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a buy rating to a strong-buy rating in a research report report published on Saturday.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Inter Parfums from a hold rating to a buy rating and set a $43.00 price target for the company in a research note on Thursday, August 24th. DA Davidson restated a buy rating and set a $45.00 price target (up previously from $44.00) on shares of Inter Parfums in a report on Thursday, August 10th. Citigroup Inc. restated a buy rating and set a $45.00 price target (up previously from $42.00) on shares of Inter Parfums in a report on Thursday, August 10th. Finally, Jefferies Group LLC started coverage on shares of Inter Parfums in a report on Friday, June 2nd. They set a hold rating and a $35.00 price target on the stock. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $42.00.

Inter Parfums (NASDAQ IPAR) opened at 38.65 on Friday. Inter Parfums has a 52 week low of $29.40 and a 52 week high of $41.70. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 29.96 and a beta of 1.77. The company has a 50-day moving average price of $37.87 and a 200-day moving average price of $36.38.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $129.10 million during the quarter, compared to analyst estimates of $122.57 million. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. Inter Parfums’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Equities research analysts anticipate that Inter Parfums will post $1.28 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, September 28th. Inter Parfums’s dividend payout ratio is 52.31%.

In related news, CFO Russell Greenberg sold 2,500 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $39.10, for a total transaction of $97,750.00. Following the completion of the sale, the chief financial officer now owns 5,500 shares in the company, valued at approximately $215,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 45.40% of the company’s stock.

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Inter Parfums by 39.4% in the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after buying an additional 985 shares in the last quarter. Stifel Financial Corp raised its position in shares of Inter Parfums by 19.3% in the first quarter. Stifel Financial Corp now owns 317,683 shares of the company’s stock valued at $11,621,000 after buying an additional 51,434 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Inter Parfums during the first quarter valued at about $479,000. Dimensional Fund Advisors LP raised its position in Inter Parfums by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,375,410 shares of the company’s stock valued at $50,271,000 after buying an additional 29,457 shares during the last quarter. Finally, Comerica Bank raised its position in Inter Parfums by 2.4% in the first quarter. Comerica Bank now owns 19,054 shares of the company’s stock valued at $704,000 after buying an additional 454 shares during the last quarter. 55.61% of the stock is currently owned by hedge funds and other institutional investors.

About Inter Parfums

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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