Inter Parfums, Inc. (NASDAQ:IPAR) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a hold rating to a strong-buy rating in a research report released on Thursday, July 20th. Zacks Investment Research currently has $43.00 price target on the stock.

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. “

Several other equities analysts have also weighed in on the stock. BidaskClub lowered shares of Inter Parfums from a buy rating to a hold rating in a report on Wednesday, July 12th. Jefferies Group LLC began coverage on shares of Inter Parfums in a report on Friday, June 2nd. They set a hold rating and a $35.00 target price on the stock. Finally, DA Davidson restated a buy rating and set a $44.00 target price on shares of Inter Parfums in a report on Monday, May 8th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Inter Parfums currently has a consensus rating of Buy and an average target price of $42.00.

Inter Parfums (IPAR) traded down 0.13% on Thursday, reaching $38.65. The company’s stock had a trading volume of 27,844 shares. The company has a 50 day moving average of $37.50 and a 200 day moving average of $36.16. Inter Parfums has a 52 week low of $29.40 and a 52 week high of $41.70. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 29.96 and a beta of 1.77.

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

COPYRIGHT VIOLATION NOTICE: This news story was originally published by BBNS and is owned by of BBNS. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The correct version of this news story can be accessed at https://baseballnewssource.com/markets/inter-parfums-inc-nasdaqipar-rating-increased-to-strong-buy-at-zacks-investment-research-updated-updated-updated/1251203.html.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.76%. Inter Parfums’s dividend payout ratio is currently 52.31%.

A number of institutional investors have recently modified their holdings of IPAR. Public Employees Retirement System of Ohio raised its position in shares of Inter Parfums by 14.7% in the second quarter. Public Employees Retirement System of Ohio now owns 92,500 shares of the company’s stock worth $3,390,000 after buying an additional 11,880 shares in the last quarter. Atlanta Capital Management Co. L L C raised its stake in shares of Inter Parfums by 14.0% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock worth $42,825,000 after buying an additional 143,072 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Inter Parfums during the second quarter worth about $1,012,000. State Street Corp raised its stake in shares of Inter Parfums by 5.5% in the second quarter. State Street Corp now owns 422,743 shares of the company’s stock worth $15,493,000 after buying an additional 21,856 shares during the period. Finally, Gotham Asset Management LLC raised its stake in shares of Inter Parfums by 32.0% in the second quarter. Gotham Asset Management LLC now owns 9,936 shares of the company’s stock worth $364,000 after buying an additional 2,407 shares during the period. Hedge funds and other institutional investors own 54.10% 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.

Get a free copy of the Zacks research report on Inter Parfums (IPAR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Inter Parfums Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inter Parfums Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns


Leave a Reply

 
© 2006-2017 BBNS.