Citigroup Reiterates “$52.00” Price Target for Inter Parfums (IPAR)
IPAR has been the subject of several other research reports. Zacks Investment Research cut shares of Inter Parfums from a buy rating to a hold rating in a research report on Wednesday, September 6th. DA Davidson lowered their price target on shares of Inter Parfums from $49.00 to $46.00 and set a neutral rating for the company in a research report on Wednesday, November 15th. Sidoti cut shares of Inter Parfums from a buy rating to a neutral rating in a research report on Thursday, November 2nd. BidaskClub cut shares of Inter Parfums from a buy rating to a hold rating in a research report on Friday, December 29th. Finally, KeyCorp set a $44.00 price target on shares of Inter Parfums and gave the stock a buy rating in a research report on Monday, October 16th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $45.17.
Shares of Inter Parfums (IPAR) opened at $43.60 on Wednesday. Inter Parfums has a 1 year low of $31.45 and a 1 year high of $46.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.54 and a current ratio of 3.39. The company has a market cap of $1,345.71, a P/E ratio of 31.73, a PEG ratio of 2.51 and a beta of 1.77.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.17. Inter Parfums’s payout ratio is currently 63.16%.
In related news, CEO Jean Madar sold 8,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $44.00, for a total transaction of $360,800.00. Following the completion of the transaction, the chief executive officer now owns 74,407 shares in the company, valued at $3,273,908. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Russell Greenberg sold 3,000 shares of Inter Parfums stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $45.00, for a total transaction of $135,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,000 shares of company stock valued at $1,664,206. Corporate insiders own 45.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IPAR. Acrospire Investment Management LLC lifted its stake in Inter Parfums by 68.9% in the second quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock valued at $116,000 after buying an additional 1,296 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Inter Parfums by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,097 shares of the company’s stock valued at $150,000 after buying an additional 614 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Inter Parfums in the third quarter valued at approximately $218,000. AHL Partners LLP bought a new position in Inter Parfums in the second quarter valued at approximately $242,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Inter Parfums by 70.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,733 shares of the company’s stock valued at $247,000 after buying an additional 2,779 shares in the last quarter. 55.39% of the stock is currently owned by hedge funds and other institutional investors.
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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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