Inter Parfums (IPAR) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Inter Parfums (NASDAQ:IPAR) from a buy rating to a hold rating in a research report report published on Friday morning.

Other analysts also recently issued reports about the stock. KeyCorp set a $44.00 target price on shares of Inter Parfums and gave the stock a buy rating in a report on Monday, October 16th. DA Davidson cut shares of Inter Parfums from a buy rating to a neutral rating and set a $49.00 price target for the company. in a research note on Thursday, October 26th. Sidoti cut shares of Inter Parfums from a buy rating to a neutral rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of Inter Parfums from a hold rating to a buy rating and set a $46.00 price target for the company in a research note on Thursday, September 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $44.00.

Shares of Inter Parfums (NASDAQ:IPAR) opened at $43.45 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.54 and a current ratio of 3.39. The company has a market cap of $1,355.06, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 2.74 and a beta of 1.77. Inter Parfums has a fifty-two week low of $31.45 and a fifty-two week high of $46.80.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Wednesday, November 8th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $169.50 million for the quarter, compared to the consensus estimate of $160.52 million. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. equities analysts anticipate that Inter Parfums will post 1.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.21 per share. This is a boost from Inter Parfums’s previous quarterly dividend of $0.17. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, December 28th. Inter Parfums’s dividend payout ratio (DPR) is currently 63.16%.

In related news, CFO Philippe Santi sold 600 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $43.86, for a total value of $26,316.00. Following the completion of the transaction, the chief financial officer now directly owns 600 shares of the company’s stock, valued at $26,316. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Torres Robert Bensoussan sold 6,000 shares of the firm’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $42.09, for a total transaction of $252,540.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock valued at $1,664,206 over the last ninety days. Company insiders own 45.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in IPAR. Teachers Advisors LLC grew its stake in shares of Inter Parfums by 2.7% in the first quarter. Teachers Advisors LLC now owns 28,789 shares of the company’s stock valued at $1,052,000 after buying an additional 762 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Inter Parfums by 68.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,500 shares of the company’s stock valued at $238,000 after buying an additional 2,640 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Inter Parfums by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 73,261 shares of the company’s stock valued at $2,686,000 after buying an additional 418 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Inter Parfums by 0.5% in the second quarter. Rhumbline Advisers now owns 46,668 shares of the company’s stock valued at $1,710,000 after buying an additional 232 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Inter Parfums by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 578,888 shares of the company’s stock valued at $21,217,000 after buying an additional 31,399 shares in the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

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