State Board of Administration of Florida Retirement System Reduces Position in Inter Parfums, Inc. (NASDAQ:IPAR)
State Board of Administration of Florida Retirement System decreased its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 12.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,983 shares of the company’s stock after selling 1,356 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Inter Parfums were worth $463,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in IPAR. Advisor Group Inc. increased its position in Inter Parfums by 72.6% during the fourth quarter. Advisor Group Inc. now owns 887 shares of the company’s stock worth $64,000 after buying an additional 373 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Inter Parfums by 23.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the company’s stock valued at $89,000 after purchasing an additional 234 shares during the period. PEAK6 Investments LLC purchased a new stake in shares of Inter Parfums in the fourth quarter valued at $205,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Inter Parfums in the fourth quarter valued at $226,000. Finally, Amalgamated Bank grew its position in shares of Inter Parfums by 4.9% in the fourth quarter. Amalgamated Bank now owns 3,428 shares of the company’s stock valued at $249,000 after purchasing an additional 160 shares during the period. 55.37% of the stock is owned by institutional investors.
A number of brokerages have recently commented on IPAR. TheStreet downgraded Inter Parfums from a “b-” rating to a “c+” rating in a research report on Thursday, April 9th. BidaskClub raised Inter Parfums from a “strong sell” rating to a “sell” rating in a research report on Friday, March 20th. Cfra lowered their price objective on Inter Parfums from $75.00 to $62.00 and set a “hold” rating for the company in a research report on Tuesday, March 3rd. Citigroup lowered their price objective on Inter Parfums from $76.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, March 4th. Finally, Oppenheimer upgraded Inter Parfums from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $29.00 to $36.00 in a report on Wednesday, May 13th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.50.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.09). The company had revenue of $144.82 million for the quarter, compared to analyst estimates of $157.85 million. Inter Parfums had a return on equity of 8.57% and a net margin of 7.56%. The company’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, sell-side analysts predict that Inter Parfums, Inc. will post 1.02 EPS for the current year.
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.
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