Zacks Investment Research Lowers Inter Parfums (IPAR) to Sell

Inter Parfums (NASDAQ:IPAR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “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 Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T. Dupont, Repetto, Rochas, Van Cleef & Arpels, Abercrombie & Fitch, Agent Provocateur, Anna Sui, bebe, Dunhill, Hollister, French Connection, Gap, Oscar de la Renta, and Shanghai Tang brands. It markets and sells its products to department stores, perfumeries, specialty retailers, mass market retailers, supermarkets, domestic and international wholesalers, and distributors. The company was formerly known as Jean Philippe Fragrances, Inc. and later changed its name to Inter Parfums, Inc. “

Several other research analysts also recently issued reports on the stock. Citigroup set a $52.00 price target on shares of Inter Parfums and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. BidaskClub downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. DA Davidson reduced their price target on shares of Inter Parfums from $49.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 15th. Sidoti downgraded shares of Inter Parfums from a “buy” rating to a “neutral” rating in a research report on Thursday, November 2nd. Finally, KeyCorp set a $44.00 price target on shares of Inter Parfums and gave the stock a “buy” rating in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Inter Parfums currently has a consensus rating of “Hold” and an average target price of $46.00.

Shares of Inter Parfums (NASDAQ IPAR) traded down $0.75 during trading hours on Wednesday, hitting $46.25. 92,734 shares of the stock traded hands, compared to its average volume of 81,771. Inter Parfums has a 52 week low of $31.45 and a 52 week high of $47.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.39 and a quick ratio of 2.54. The firm has a market cap of $1,442.40, a P/E ratio of 34.01, a PEG ratio of 2.69 and a beta of 1.77.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Wednesday, November 8th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The company had revenue of $169.50 million for the quarter, compared to the consensus estimate of $160.52 million. During the same quarter in the previous year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities research analysts predict that Inter Parfums will post 1.29 earnings per share for the current fiscal year.

In other Inter Parfums news, CFO Philippe Santi sold 600 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $43.86, for a total transaction of $26,316.00. Following the completion of the sale, the chief financial officer now directly owns 600 shares of the company’s stock, valued at approximately $26,316. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jean Madar sold 8,200 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $44.00, for a total value of $360,800.00. Following the sale, the chief executive officer now directly owns 74,407 shares of the company’s stock, valued at $3,273,908. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock valued at $1,411,666 over the last three months. Company insiders own 45.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH bought a new stake in Inter Parfums during the 3rd quarter worth about $268,000. Stifel Financial Corp increased its stake in shares of Inter Parfums by 6.8% in the 3rd quarter. Stifel Financial Corp now owns 395,782 shares of the company’s stock valued at $16,335,000 after acquiring an additional 25,347 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in shares of Inter Parfums in the 3rd quarter valued at about $904,000. Dimensional Fund Advisors LP increased its stake in shares of Inter Parfums by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,424,957 shares of the company’s stock valued at $58,780,000 after acquiring an additional 33,230 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Inter Parfums in the 3rd quarter valued at about $218,000. 55.39% of the stock is owned by hedge funds and other institutional investors.

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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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