Zacks Investment Research upgraded shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a hold rating to a strong-buy rating in a research note released on Thursday. The firm currently has $43.00 price objective on the stock.
According to Zacks, “Inter Parfums, Inc. is a world-wide provider of prestige perfumes and mass market perfumes and cosmetics. They operate in the fragrance and cosmetic industry, specializing in prestige perfumes and mass market perfumes and cosmetics. “
Other research analysts have also recently issued research reports about the company. BidaskClub upgraded Inter Parfums from a sell rating to a hold rating in a research report on Thursday, June 15th. DA Davidson reiterated a buy rating and issued a $44.00 target price on shares of Inter Parfums in a research report on Monday, May 8th. Finally, Jefferies Group LLC began coverage on Inter Parfums in a research report on Friday, June 2nd. They issued a hold rating and a $35.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $39.57.
Shares of Inter Parfums (IPAR) traded up 0.13% on Thursday, reaching $37.55. 56,862 shares of the company traded hands. The company has a market capitalization of $1.17 billion, a P/E ratio of 29.80 and a beta of 1.76. The firm’s 50 day moving average is $36.06 and its 200 day moving average is $35.38. Inter Parfums has a one year low of $27.05 and a one year high of $41.70.
Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, May 9th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. Inter Parfums had a return on equity of 8.10% and a net margin of 7.12%. The firm had revenue of $143.10 million for the quarter, compared to analysts’ expectations of $120.05 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. Analysts expect that Inter Parfums will post $1.25 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, June 28th. Inter Parfums’s payout ratio is 53.54%.
Several hedge funds have recently made changes to their positions in IPAR. Russell Investments Group Ltd. purchased a new stake in shares of Inter Parfums during the fourth quarter worth approximately $736,000. Comerica Bank raised its stake in shares of Inter Parfums by 3.7% in the fourth quarter. Comerica Bank now owns 18,600 shares of the company’s stock worth $614,000 after buying an additional 666 shares during the last quarter. State Street Corp raised its stake in shares of Inter Parfums by 8.4% in the fourth quarter. State Street Corp now owns 372,497 shares of the company’s stock worth $12,198,000 after buying an additional 28,922 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Inter Parfums by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,345,953 shares of the company’s stock worth $44,080,000 after buying an additional 48,111 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Inter Parfums by 0.5% in the fourth quarter. AQR Capital Management LLC now owns 8,265 shares of the company’s stock worth $271,000 after buying an additional 42 shares during the last quarter. 55.14% of the stock is currently owned by hedge funds and other institutional investors.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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