Inter Parfums, Inc. (IPAR) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a buy rating to a hold rating in a report published on Tuesday morning.

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. “

Several other research firms also recently weighed in on IPAR. BidaskClub downgraded Inter Parfums from a buy rating to a hold rating in a research report on Wednesday, July 12th. DA Davidson reiterated a buy rating and set a $45.00 target price (up from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Citigroup Inc. reiterated a buy rating and set a $45.00 target price (up from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Finally, Jefferies Group LLC initiated coverage on Inter Parfums in a research report on Friday, June 2nd. They set a hold rating and a $35.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Inter Parfums currently has an average rating of Buy and a consensus price target of $42.20.

Inter Parfums (NASDAQ IPAR) opened at 39.75 on Tuesday. The stock’s 50 day moving average is $38.97 and its 200-day moving average is $36.80. Inter Parfums has a 12 month low of $29.40 and a 12 month high of $41.70. The company has a market capitalization of $1.24 billion, a PE ratio of 30.81 and a beta of 1.77.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Monday, August 7th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. The business had revenue of $129.10 million during the quarter, compared to the consensus estimate of $122.57 million. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Inter Parfums will post $1.28 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. Inter Parfums’s dividend payout ratio (DPR) is 52.31%.

In other news, CFO Russell Greenberg sold 2,500 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $39.10, for a total transaction of $97,750.00. Following the transaction, the chief financial officer now owns 5,500 shares in the company, valued at $215,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 45.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Inter Parfums during the first quarter valued at $107,000. Acrospire Investment Management LLC increased its stake in shares of Inter Parfums by 68.9% during the second quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock valued at $116,000 after buying an additional 1,296 shares during the period. US Bancorp DE increased its stake in shares of Inter Parfums by 45.4% during the first quarter. US Bancorp DE now owns 3,187 shares of the company’s stock valued at $116,000 after buying an additional 995 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Inter Parfums by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock valued at $123,000 after buying an additional 1,490 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Inter Parfums by 39.4% during the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock valued at $127,000 after buying an additional 985 shares during the period. Hedge funds and other institutional investors own 55.61% of the company’s stock.

Inter Parfums Company Profile

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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