Inter Parfums (IPAR) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Inter Parfums (NASDAQ:IPAR) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, Zacks.com reports. They currently have $80.00 target price on the stock.

According to Zacks, “Inter Parfums, Inc. is a premier fragrance company with a diverse portfolio of prestige brands. They has been selected as the fragrance and beauty partner for a growing list of brands that include Abercrombie & Fitch, Agent Provocateur, Anna Sui, bebe, Boucheron, Coach, Dunhill, Hollister, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Oscar de la Renta, Paul Smith, Repetto, Rochas, Shanghai Tang, S.T. Dupont and Van Cleef & Arpels. Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes worldwide. “

Other equities analysts also recently issued research reports about the company. Raymond James boosted their target price on Inter Parfums from $68.00 to $82.00 and gave the stock an outperform rating in a research note on Tuesday, March 5th. DA Davidson downgraded Inter Parfums from a buy rating to a neutral rating and boosted their target price for the stock from $72.00 to $84.00 in a research note on Tuesday, March 5th. BidaskClub downgraded Inter Parfums from a buy rating to a hold rating in a research note on Friday, March 22nd. BWS Financial downgraded Inter Parfums from a buy rating to a hold rating and set a $65.00 target price on the stock. in a research note on Friday, December 28th. Finally, Citigroup boosted their target price on Inter Parfums from $64.00 to $79.00 and gave the stock a neutral rating in a research note on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $75.00.

Shares of NASDAQ IPAR traded down $0.04 during midday trading on Friday, reaching $71.27. The company’s stock had a trading volume of 266,302 shares, compared to its average volume of 109,314. Inter Parfums has a 12-month low of $45.25 and a 12-month high of $80.99. The company has a market capitalization of $2.23 billion, a PE ratio of 41.68, a PEG ratio of 3.06 and a beta of 0.92. The company has a quick ratio of 2.18, a current ratio of 3.05 and a debt-to-equity ratio of 0.04.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Monday, March 4th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. Inter Parfums had a return on equity of 9.17% and a net margin of 7.96%. The firm had revenue of $177.20 million for the quarter, compared to the consensus estimate of $169.80 million. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s revenue was up 18.5% compared to the same quarter last year. As a group, research analysts expect that Inter Parfums will post 1.9 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.275 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.10 annualized dividend and a yield of 1.54%. Inter Parfums’s payout ratio is 64.33%.

In related news, CFO Russell Greenberg sold 3,941 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $67.25, for a total value of $265,032.25. Following the transaction, the chief financial officer now owns 3,941 shares in the company, valued at $265,032.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 15,949 shares of company stock worth $1,115,271. 45.00% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of IPAR. Wells Fargo & Company MN lifted its stake in Inter Parfums by 8.6% in the third quarter. Wells Fargo & Company MN now owns 40,917 shares of the company’s stock valued at $2,638,000 after purchasing an additional 3,242 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Inter Parfums by 52.7% during the third quarter. MetLife Investment Advisors LLC now owns 12,508 shares of the company’s stock worth $806,000 after acquiring an additional 4,317 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Inter Parfums by 289.6% during the third quarter. AQR Capital Management LLC now owns 41,405 shares of the company’s stock worth $2,668,000 after acquiring an additional 30,778 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Inter Parfums by 10.3% during the third quarter. Glenmede Trust Co. NA now owns 9,752 shares of the company’s stock worth $628,000 after acquiring an additional 911 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Inter Parfums by 3.1% during the third quarter. Teachers Advisors LLC now owns 34,382 shares of the company’s stock worth $2,216,000 after acquiring an additional 1,034 shares in the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

About Inter Parfums

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 Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.

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