Inter Parfums (NASDAQ:IPAR) Stock Price Up 8.2% After Analyst Upgrade

Shares of Inter Parfums, Inc. (NASDAQ:IPAR) rose 8.2% on Thursday after DA Davidson raised their price target on the stock from $77.00 to $80.00. DA Davidson currently has a neutral rating on the stock. Inter Parfums traded as high as $75.72 and last traded at $75.72. Approximately 7 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 98,386 shares. The stock had previously closed at $69.96.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Inter Parfums from a “strong-buy” rating to a “hold” rating and set a $74.00 target price for the company. in a research note on Friday, March 5th. Citigroup lifted their price objective on shares of Inter Parfums from $56.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, March 9th. Finally, BWS Financial upped their target price on shares of Inter Parfums from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, January 27th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Inter Parfums currently has a consensus rating of “Hold” and an average price target of $64.57.

In related news, insider Pelayo Frederic Garcia sold 2,400 shares of the company’s stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $64.03, for a total value of $153,672.00. Following the transaction, the insider now owns 2,400 shares in the company, valued at approximately $153,672. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Russell Greenberg sold 5,000 shares of the stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $66.06, for a total transaction of $330,300.00. Following the completion of the transaction, the chief financial officer now directly owns 7,500 shares in the company, valued at $495,450. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,900 shares of company stock worth $995,156. 44.70% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Inter Parfums by 5.8% during the fourth quarter. BlackRock Inc. now owns 2,682,141 shares of the company’s stock worth $162,243,000 after purchasing an additional 147,366 shares during the period. Northern Trust Corp grew its holdings in Inter Parfums by 1.2% in the 4th quarter. Northern Trust Corp now owns 917,348 shares of the company’s stock valued at $55,489,000 after buying an additional 10,598 shares in the last quarter. Bank of New York Mellon Corp increased its position in Inter Parfums by 14.4% during the 4th quarter. Bank of New York Mellon Corp now owns 604,381 shares of the company’s stock worth $36,559,000 after buying an additional 75,974 shares during the period. WCM Investment Management LLC bought a new position in Inter Parfums during the 4th quarter worth $15,010,000. Finally, Pier Capital LLC lifted its holdings in shares of Inter Parfums by 20.5% during the fourth quarter. Pier Capital LLC now owns 241,698 shares of the company’s stock worth $14,620,000 after buying an additional 41,108 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 0.03, a current ratio of 4.54 and a quick ratio of 3.04. The stock’s 50-day moving average price is $72.19 and its 200-day moving average price is $60.42. The company has a market cap of $2.36 billion, a P/E ratio of 74.49 and a beta of 0.95.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Sunday, February 28th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. Inter Parfums had a net margin of 5.94% and a return on equity of 5.12%. The business had revenue of $184.04 million during the quarter, compared to analysts’ expectations of $148.00 million. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that Inter Parfums, Inc. will post 0.84 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were given a $0.25 dividend. The ex-dividend date was Friday, March 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Inter Parfums’s payout ratio is 52.63%.

Inter Parfums Company Profile (NASDAQ:IPAR)

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. 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, Kate Spade New York, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.

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