Inter Parfums (IPAR) Downgraded by BidaskClub
BidaskClub downgraded shares of Inter Parfums (NASDAQ:IPAR) from a buy rating to a hold rating in a report published on Friday.
Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Inter Parfums from a hold rating to a buy rating and set a $88.00 price objective for the company in a research note on Friday, March 8th. BWS Financial lowered shares of Inter Parfums from a buy rating to a hold rating and set a $65.00 price objective for the company. in a research note on Friday, December 28th. DA Davidson lowered shares of Inter Parfums from a buy rating to a neutral rating and upped their price objective for the company from $72.00 to $84.00 in a research note on Tuesday, March 5th. Citigroup upped their price objective on shares of Inter Parfums from $64.00 to $79.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Finally, Raymond James upped their price objective on shares of Inter Parfums from $68.00 to $82.00 and gave the company an outperform rating in a research note on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $76.33.
NASDAQ IPAR traded down $1.73 on Friday, reaching $75.13. The company’s stock had a trading volume of 94,751 shares, compared to its average volume of 193,530. Inter Parfums has a twelve month low of $45.25 and a twelve month high of $80.99. The company has a current ratio of 3.05, a quick ratio of 2.18 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 43.94, a PEG ratio of 3.25 and a beta of 0.92.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Thursday, March 28th. Inter Parfums’s dividend payout ratio is presently 64.33%.
In other news, CFO Russell Greenberg sold 8,941 shares of the company’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $67.98, for a total value of $607,809.18. Following the transaction, the chief financial officer now owns 3,941 shares in the company, valued at approximately $267,909.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pelayo Frederic Garcia sold 2,277 shares of the company’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $64.36, for a total value of $146,547.72. Following the completion of the transaction, the insider now owns 293 shares in the company, valued at approximately $18,857.48. The disclosure for this sale can be found here. Insiders have sold 27,149 shares of company stock valued at $1,826,042 over the last ninety days. Insiders own 45.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley increased its holdings in shares of Inter Parfums by 44.3% in the 3rd quarter. Morgan Stanley now owns 117,744 shares of the company’s stock valued at $7,589,000 after purchasing an additional 36,132 shares during the period. Hsbc Holdings PLC increased its holdings in Inter Parfums by 82.4% in the third quarter. Hsbc Holdings PLC now owns 44,056 shares of the company’s stock worth $2,839,000 after buying an additional 19,906 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Inter Parfums in the third quarter worth approximately $848,000. Virtu Financial LLC acquired a new position in Inter Parfums in the fourth quarter worth approximately $279,000. Finally, Eagle Asset Management Inc. increased its holdings in Inter Parfums by 0.6% in the fourth quarter. Eagle Asset Management Inc. now owns 202,278 shares of the company’s stock worth $13,263,000 after buying an additional 1,280 shares during the last quarter. Institutional investors own 55.77% of the company’s stock.
Inter Parfums Company Profile
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.
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