Citigroup Reiterates $64.00 Price Target for Inter Parfums (IPAR)
IPAR has been the subject of several other research reports. Zacks Investment Research lowered shares of Inter Parfums from a buy rating to a hold rating in a report on Wednesday, October 10th. BidaskClub raised shares of Inter Parfums from a sell rating to a hold rating in a report on Saturday, October 27th. Jefferies Financial Group set a $60.00 price target on shares of Inter Parfums and gave the company a hold rating in a report on Wednesday, August 8th. BWS Financial upped their target price on shares of Inter Parfums from $56.00 to $65.00 and gave the stock a buy rating in a research note on Wednesday, July 25th. Finally, DA Davidson reaffirmed a buy rating and issued a $75.00 target price on shares of Inter Parfums in a research note on Monday, September 17th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $68.40.
IPAR stock traded up $0.70 during trading on Wednesday, hitting $61.20. The company had a trading volume of 73,781 shares, compared to its average volume of 83,498. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.18. Inter Parfums has a 12 month low of $41.30 and a 12 month high of $67.50. The stock has a market capitalization of $1.93 billion, a PE ratio of 46.02, a price-to-earnings-growth ratio of 3.12 and a beta of 1.30.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a $0.275 dividend. The ex-dividend date is Friday, December 28th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.21. This represents a $1.10 dividend on an annualized basis and a yield of 1.80%. Inter Parfums’s dividend payout ratio is presently 63.16%.
In related news, insider Pelayo Frederic Garcia sold 3,600 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $65.20, for a total value of $234,720.00. Following the completion of the transaction, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $65,200. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Russell Greenberg sold 1,059 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $66.50, for a total transaction of $70,423.50. Following the sale, the chief financial officer now directly owns 44 shares in the company, valued at $2,926. The disclosure for this sale can be found here. 45.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Northern Trust Corp lifted its position in Inter Parfums by 1.5% during the 2nd quarter. Northern Trust Corp now owns 748,289 shares of the company’s stock worth $40,033,000 after buying an additional 11,396 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Inter Parfums by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 478,231 shares of the company’s stock worth $25,585,000 after buying an additional 31,499 shares in the last quarter. Cortina Asset Management LLC lifted its position in Inter Parfums by 36.9% during the 2nd quarter. Cortina Asset Management LLC now owns 458,351 shares of the company’s stock worth $24,522,000 after buying an additional 123,582 shares in the last quarter. Fort Pitt Capital Group LLC lifted its position in Inter Parfums by 20.0% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 458,223 shares of the company’s stock worth $24,515,000 after buying an additional 76,327 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its position in Inter Parfums by 4.0% during the 3rd quarter. Granite Investment Partners LLC now owns 287,724 shares of the company’s stock worth $18,544,000 after buying an additional 11,067 shares in the last quarter. 56.37% of the stock is currently owned by hedge funds and other institutional investors.
About Inter Parfums
Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
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