Brokerages Set Inter Parfums, Inc. (IPAR) Target Price at $68.25

Inter Parfums, Inc. (NASDAQ:IPAR) has earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $68.25.

IPAR has been the subject of a number of analyst reports. BidaskClub upgraded shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 19th. ValuEngine upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. BWS Financial boosted their target price on shares of Inter Parfums from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, Jefferies Financial Group set a $60.00 target price on shares of Inter Parfums and gave the stock a “hold” rating in a research note on Wednesday, August 8th.

In other Inter Parfums news, insider Pelayo Frederic Garcia sold 3,600 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $65.20, for a total value of $234,720.00. Following the completion of the transaction, the insider now owns 1,000 shares in the company, valued at $65,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Russell Greenberg sold 1,059 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $66.50, for a total transaction of $70,423.50. Following the sale, the chief financial officer now owns 44 shares of the company’s stock, valued at approximately $2,926. The disclosure for this sale can be found here. Insiders sold 8,259 shares of company stock valued at $38,188,304 in the last 90 days. 45.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Moody Aldrich Partners LLC acquired a new stake in shares of Inter Parfums during the second quarter worth about $3,307,000. Bank of New York Mellon Corp boosted its stake in shares of Inter Parfums by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 478,231 shares of the company’s stock worth $25,585,000 after buying an additional 31,499 shares during the period. California Public Employees Retirement System boosted its stake in shares of Inter Parfums by 9.0% during the second quarter. California Public Employees Retirement System now owns 37,292 shares of the company’s stock worth $1,995,000 after buying an additional 3,078 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Inter Parfums during the second quarter worth about $835,000. Finally, Zacks Investment Management boosted its stake in shares of Inter Parfums by 7.0% during the second quarter. Zacks Investment Management now owns 28,144 shares of the company’s stock worth $1,506,000 after buying an additional 1,842 shares during the period. Institutional investors and hedge funds own 56.48% of the company’s stock.

Shares of IPAR stock traded up $0.85 on Wednesday, reaching $63.30. 80,728 shares of the stock were exchanged, compared to its average volume of 78,809. The company has a current ratio of 3.17, a quick ratio of 2.18 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.96 billion, a P/E ratio of 47.59, a PEG ratio of 3.20 and a beta of 1.43. Inter Parfums has a twelve month low of $39.10 and a twelve month high of $67.50.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, August 7th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. The firm had revenue of $149.37 million during the quarter, compared to the consensus estimate of $149.42 million. Inter Parfums had a net margin of 7.54% and a return on equity of 8.37%. equities analysts forecast that Inter Parfums will post 1.6 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.33%. Inter Parfums’s dividend payout ratio is presently 63.16%.

About Inter Parfums

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

Featured Story: Momentum Indicator: Relative Strength Index

Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

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

Leave a Reply