Inter Parfums, Inc. (NASDAQ:IPAR) Cut 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 research report sent to investors on Wednesday 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. “
Other research analysts have also recently issued research reports about the company. Jefferies Group LLC started coverage on Inter Parfums in a research note on Friday, June 2nd. They issued a hold rating and a $35.00 price target on the stock. BidaskClub upgraded Inter Parfums from a sell rating to a hold rating in a research note on Thursday, June 15th. B. Riley boosted their price target on Inter Parfums from $40.00 to $42.00 and gave the stock a buy rating in a research note on Wednesday, March 15th. Finally, DA Davidson reiterated a buy rating and issued a $44.00 price target on shares of Inter Parfums in a research note on Monday, May 8th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Inter Parfums has an average rating of Buy and a consensus target price of $39.57.
Shares of Inter Parfums (IPAR) traded up 0.55% during midday trading on Wednesday, hitting $36.25. The stock had a trading volume of 60,321 shares. The stock has a 50 day moving average of $35.66 and a 200-day moving average of $35.14. The company has a market cap of $1.13 billion, a P/E ratio of 28.77 and a beta of 1.76. Inter Parfums has a one year low of $27.05 and a one year high of $41.70.
Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, May 9th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Inter Parfums had a return on equity of 8.10% and a net margin of 7.12%. The company had revenue of $143.10 million during the quarter, compared to the consensus estimate of $120.05 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The company’s revenue was up 28.3% compared to the same quarter last year. Analysts forecast that Inter Parfums will post $1.25 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Wednesday, June 28th. Inter Parfums’s payout ratio is currently 53.54%.
A number of hedge funds have recently made changes to their positions in IPAR. State of Alaska Department of Revenue boosted its stake in shares of Inter Parfums by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock valued at $123,000 after buying an additional 1,490 shares during the last quarter. Ranger Investment Management L.P. boosted its stake in shares of Inter Parfums by 13.8% in the first quarter. Ranger Investment Management L.P. now owns 689,187 shares of the company’s stock valued at $25,190,000 after buying an additional 83,782 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Inter Parfums during the first quarter valued at about $275,000. State Street Corp boosted its stake in shares of Inter Parfums by 7.6% in the first quarter. State Street Corp now owns 400,887 shares of the company’s stock valued at $14,654,000 after buying an additional 28,390 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Inter Parfums by 13.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 72,843 shares of the company’s stock valued at $2,663,000 after buying an additional 8,462 shares during the last quarter. Hedge funds and other institutional investors own 55.14% 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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