Inter Parfums (NASDAQ:IPAR) Reaches New 12-Month Low on Analyst Downgrade

Inter Parfums, Inc. (NASDAQ:IPAR)’s stock price reached a new 52-week low on Thursday after Piper Sandler lowered their price target on the stock from $176.00 to $172.00. Piper Sandler currently has an overweight rating on the stock. Inter Parfums traded as low as $119.20 and last traded at $119.31, with a volume of 65895 shares trading hands. The stock had previously closed at $130.52.

Separately, BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th.

Insiders Place Their Bets

In other news, Director Gilbert Harrison sold 250 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $150,420. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 43.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in shares of Inter Parfums by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock valued at $1,641,000 after acquiring an additional 81 shares during the last quarter. Comerica Bank boosted its stake in Inter Parfums by 0.7% during the 4th quarter. Comerica Bank now owns 11,360 shares of the company’s stock valued at $1,636,000 after purchasing an additional 83 shares during the period. Teacher Retirement System of Texas boosted its stake in Inter Parfums by 0.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock valued at $1,721,000 after purchasing an additional 100 shares during the period. Signaturefd LLC boosted its stake in Inter Parfums by 87.4% during the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Inter Parfums by 4.9% during the 4th quarter. Fifth Third Bancorp now owns 2,567 shares of the company’s stock valued at $370,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Stock Performance

The firm has a 50 day moving average of $137.26 and a two-hundred day moving average of $135.40. The stock has a market cap of $3.83 billion, a P/E ratio of 25.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The business had revenue of $328.74 million for the quarter, compared to the consensus estimate of $329.00 million. During the same quarter in the previous year, the company earned $0.71 EPS. Inter Parfums’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts predict that Inter Parfums, Inc. will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.75 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s dividend payout ratio (DPR) is currently 63.16%.

About Inter Parfums

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. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.