Inter Parfums (NASDAQ:IPAR) Reaches New 52-Week Low on Disappointing Earnings

Shares of Inter Parfums, Inc. (NASDAQ:IPAR) hit a new 52-week low on Wednesday following a weaker than expected earnings announcement. The company traded as low as $114.81 and last traded at $115.72, with a volume of 67994 shares changing hands. The stock had previously closed at $123.27.

The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.29). Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The business had revenue of $323.96 million during the quarter, compared to analysts’ expectations of $324.00 million. During the same quarter last year, the business posted $1.68 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.60%. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s dividend payout ratio is currently 63.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. DA Davidson reiterated a “buy” rating and set a $192.00 price target on shares of Inter Parfums in a report on Friday, April 26th. BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Wednesday, April 17th. Finally, Piper Sandler decreased their price target on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th.

Insider Transactions at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $150,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

Several institutional investors have recently made changes to their positions in IPAR. McGlone Suttner Wealth Management Inc. bought a new stake in Inter Parfums during the fourth quarter valued at about $27,000. Principal Securities Inc. purchased a new position in shares of Inter Parfums in the 4th quarter worth approximately $30,000. Whittier Trust Co. acquired a new stake in Inter Parfums in the first quarter valued at approximately $31,000. Signaturefd LLC grew its holdings in Inter Parfums by 87.4% in the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Inter Parfums in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Stock Performance

The firm’s 50-day simple moving average is $131.91 and its two-hundred day simple moving average is $135.06. The company has a market cap of $3.70 billion, a PE ratio of 24.38 and a beta of 1.19. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14.

Inter Parfums Company Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.