Zacks Investment Research lowered shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a buy rating to a hold rating in a report issued on Wednesday morning.

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 equities research analysts have also issued research reports about the company. Citigroup Inc. reaffirmed a buy rating and issued a $45.00 target price (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 issued a $45.00 target price (up previously from $44.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Finally, Jefferies Group LLC began coverage on Inter Parfums in a research note on Friday, June 2nd. They issued a hold rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $42.60.

Inter Parfums (NASDAQ:IPAR) traded down 2.02% during midday trading on Wednesday, hitting $41.25. The company had a trading volume of 64,076 shares. Inter Parfums has a 52-week low of $29.40 and a 52-week high of $42.05. The stock’s 50-day moving average price is $39.09 and its 200-day moving average price is $36.93. The stock has a market cap of $1.29 billion, a PE ratio of 31.98 and a beta of 1.77.

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. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. The firm had revenue of $129.10 million for the quarter, compared to analyst estimates of $122.57 million. During the same quarter in the prior year, the company earned $0.19 EPS. Inter Parfums’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Inter Parfums will post $1.28 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors 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 yield of 1.65%. The ex-dividend date of this dividend is Thursday, September 28th. Inter Parfums’s payout ratio is currently 52.31%.

In other Inter Parfums news, CFO Russell Greenberg sold 2,500 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $39.60, for a total value of $99,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,500 shares in the company, valued at approximately $217,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 45.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fort Pitt Capital Group LLC raised its holdings in Inter Parfums by 31.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 386,988 shares of the company’s stock valued at $14,183,000 after acquiring an additional 92,965 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Inter Parfums by 14.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 92,500 shares of the company’s stock valued at $3,390,000 after acquiring an additional 11,880 shares during the last quarter. Atlanta Capital Management Co. L L C raised its holdings in Inter Parfums by 14.0% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock valued at $42,825,000 after acquiring an additional 143,072 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Inter Parfums in the 2nd quarter valued at $1,012,000. Finally, State Street Corp raised its holdings in Inter Parfums by 5.5% in the 2nd quarter. State Street Corp now owns 422,743 shares of the company’s stock valued at $15,493,000 after acquiring an additional 21,856 shares during the last quarter. Institutional investors own 55.61% of the company’s stock.

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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