Sidoti lowered shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a buy rating to a neutral rating in a research note issued to investors on Thursday, November 2nd, MarketBeat Ratings reports.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Inter Parfums from a hold rating to a buy rating and set a $44.00 price target for the company in a report on Friday, September 1st. Citigroup Inc. reiterated a buy rating and issued a $45.00 price objective (up from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. DA Davidson restated a buy rating and set a $45.00 price target (up from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. BidaskClub upgraded shares of Inter Parfums from a hold rating to a buy rating in a research report on Monday, July 24th. Finally, KeyCorp set a $44.00 price objective on shares of Inter Parfums and gave the stock a buy rating in a research note on Monday, October 16th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $44.00.
Shares of Inter Parfums (IPAR) traded down $1.30 on Thursday, reaching $41.90. 84,900 shares of the company’s stock traded hands, compared to its average volume of 83,371. The company has a quick ratio of 2.54, a current ratio of 3.39 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1,347.27, a price-to-earnings ratio of 31.76, a P/E/G ratio of 2.73 and a beta of 1.80. Inter Parfums has a one year low of $30.45 and a one year high of $46.80.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The company had revenue of $169.50 million for the quarter, compared to the consensus estimate of $160.52 million. During the same quarter last year, the firm posted $0.52 earnings per share. Inter Parfums’s revenue was up 7.6% on a year-over-year basis. sell-side analysts predict that Inter Parfums will post 1.29 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, December 28th. Inter Parfums’s payout ratio is presently 51.13%.
In related news, Director Torres Robert Bensoussan sold 6,000 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $42.09, for a total transaction of $252,540.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patrick Choel sold 750 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $41.59, for a total transaction of $31,192.50. The disclosure for this sale can be found here. Insiders sold 9,250 shares of company stock valued at $382,733 over the last 90 days. 45.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Atlanta Capital Management Co. L L C lifted its position in Inter Parfums by 14.0% during 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 purchasing an additional 143,072 shares during the period. Systematic Financial Management LP increased its stake in shares of Inter Parfums by 227.9% in the 2nd quarter. Systematic Financial Management LP now owns 178,344 shares of the company’s stock valued at $6,536,000 after acquiring an additional 123,954 shares during the last quarter. Royce & Associates LP increased its stake in Inter Parfums by 20.4% during the 2nd quarter. Royce & Associates LP now owns 600,255 shares of the company’s stock worth $21,999,000 after purchasing an additional 101,565 shares in the last quarter. Renaissance Technologies LLC increased its stake in Inter Parfums by 37.1% during the 2nd quarter. Renaissance Technologies LLC now owns 343,713 shares of the company’s stock worth $12,597,000 after purchasing an additional 93,100 shares in the last quarter. Finally, Fort Pitt Capital Group LLC increased its stake in Inter Parfums by 31.6% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 386,988 shares of the company’s stock worth $14,183,000 after purchasing an additional 92,965 shares in the last quarter. Institutional investors and hedge funds own 55.43% 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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