Brokerages Set Inter Parfums, Inc. (NASDAQ:IPAR) PT at $78.00

Shares of Inter Parfums, Inc. (NASDAQ:IPAR) have been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $78.00.

IPAR has been the subject of a number of analyst reports. Zacks Investment Research downgraded Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. DA Davidson downgraded Inter Parfums from a “buy” rating to a “neutral” rating and boosted their price target for the company from $78.00 to $82.00 in a research note on Thursday, November 7th. ValuEngine downgraded Inter Parfums from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup boosted their price target on Inter Parfums from $73.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, BidaskClub downgraded Inter Parfums from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th.

In other Inter Parfums news, CFO Russell Greenberg sold 4,433 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $68.14, for a total transaction of $302,064.62. Following the completion of the transaction, the chief financial officer now owns 4,433 shares of the company’s stock, valued at $302,064.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 11,933 shares of company stock valued at $824,315. Insiders own 44.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd raised its stake in Inter Parfums by 97.6% during the second quarter. Point72 Hong Kong Ltd now owns 737 shares of the company’s stock worth $49,000 after acquiring an additional 364 shares in the last quarter. CENTRAL TRUST Co acquired a new position in shares of Inter Parfums in the second quarter valued at approximately $48,000. Krane Funds Advisors LLC acquired a new position in shares of Inter Parfums in the second quarter valued at approximately $57,000. Huntington National Bank increased its stake in shares of Inter Parfums by 13.4% in the second quarter. Huntington National Bank now owns 2,193 shares of the company’s stock valued at $146,000 after buying an additional 259 shares during the period. Finally, Smith Asset Management Group LP acquired a new position in shares of Inter Parfums in the second quarter valued at approximately $174,000. 53.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ IPAR traded down $1.37 during midday trading on Monday, reaching $75.43. The company’s stock had a trading volume of 129,000 shares, compared to its average volume of 88,944. The stock has a 50 day simple moving average of $73.08 and a 200-day simple moving average of $68.41. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 44.11, a PEG ratio of 3.25 and a beta of 0.88. Inter Parfums has a fifty-two week low of $57.37 and a fifty-two week high of $81.40. The company has a current ratio of 3.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.06.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.01). The company had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.18 million. Inter Parfums had a net margin of 8.43% and a return on equity of 10.15%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. As a group, equities analysts anticipate that Inter Parfums will post 1.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.33 per share. This is an increase from Inter Parfums’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.32 annualized dividend and a yield of 1.75%. Inter Parfums’s payout ratio is presently 64.33%.

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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