Inter Parfums, Inc. (IPAR) Downgraded to Hold at Zacks Investment Research

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

IPAR has been the subject of a number of other reports. BidaskClub raised Inter Parfums from a buy rating to a strong-buy rating in a research report on Saturday, August 26th. Jefferies Group LLC started coverage on Inter Parfums in a research report on Friday, June 2nd. They issued a hold rating and a $35.00 price objective for the company. DA Davidson reaffirmed a buy rating and issued a $45.00 price objective (up from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Finally, Citigroup Inc. reaffirmed 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. Two investment 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. Inter Parfums currently has an average rating of Buy and a consensus target price of $42.20.

Shares of Inter Parfums (IPAR) traded up 1.01% on Tuesday, hitting $40.20. The stock had a trading volume of 182,240 shares. Inter Parfums has a 52 week low of $29.40 and a 52 week high of $41.70. The stock’s 50-day moving average price is $38.98 and its 200 day moving average price is $36.84. The company has a market cap of $1.25 billion, a PE ratio of 31.16 and a beta of 1.77.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. The company had revenue of $129.10 million during the quarter, compared to analysts’ expectations of $122.57 million. During the same period last year, the firm posted $0.19 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, analysts predict that Inter Parfums will post $1.28 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.68 annualized dividend and a yield of 1.69%. Inter Parfums’s payout ratio is currently 52.31%.

In related news, CFO Russell Greenberg sold 2,500 shares of Inter Parfums stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $39.60, for a total transaction of $99,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at approximately $217,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 45.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Inter Parfums during the 1st quarter worth approximately $107,000. US Bancorp DE lifted its holdings in Inter Parfums by 45.4% during the 1st quarter. US Bancorp DE now owns 3,187 shares of the company’s stock worth $116,000 after purchasing an additional 995 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings in Inter Parfums by 68.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock worth $116,000 after purchasing an additional 1,296 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Inter Parfums by 78.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock worth $123,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Inter Parfums by 39.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after purchasing an additional 985 shares during the last quarter. 55.61% of the stock is owned by institutional investors and hedge funds.

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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