Inter Parfums, Inc. (IPAR) Stock Rating Lowered by Zacks Investment Research
Inter Parfums, Inc. (NASDAQ:IPAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Other research analysts have also recently issued research reports about the company. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Inter Parfums in a research note on Thursday, August 10th. BidaskClub raised Inter Parfums from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. DA Davidson reaffirmed a “buy” rating and set a $45.00 target price (up previously from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Finally, Jefferies Group LLC started coverage on Inter Parfums in a research report on Friday, June 2nd. They set a “hold” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $42.20.
Shares of Inter Parfums (NASDAQ IPAR) opened at 40.35 on Tuesday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 31.28 and a beta of 1.77. The company’s 50 day moving average price is $38.84 and its 200 day moving average price is $36.76. Inter Parfums has a 52-week low of $29.40 and a 52-week high of $41.70.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. The company had revenue of $129.10 million for the quarter, compared to analysts’ expectations of $122.57 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Inter Parfums’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Inter Parfums will post $1.28 EPS for the current year.
In other news, CFO Russell Greenberg sold 2,500 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $39.10, for a total value of $97,750.00. Following the completion of the sale, the chief financial officer now owns 5,500 shares of the company’s stock, valued at approximately $215,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 45.40% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Inter Parfums in the 1st quarter worth $107,000. Acrospire Investment Management LLC boosted its position in shares of Inter Parfums by 68.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock worth $116,000 after purchasing an additional 1,296 shares in the last quarter. US Bancorp DE boosted its position in shares of Inter Parfums by 45.4% in the 1st quarter. US Bancorp DE now owns 3,187 shares of the company’s stock worth $116,000 after purchasing an additional 995 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Inter Parfums by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock worth $123,000 after purchasing an additional 1,490 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Inter Parfums by 39.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after purchasing an additional 985 shares in the last quarter. 55.61% of the stock is 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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