Inter Parfums (NASDAQ:IPAR) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, November 7th, MarketBeat Ratings reports. They presently have a $82.00 price objective on the stock, up from their prior price objective of $78.00. DA Davidson’s price target would indicate a potential upside of 8.71% from the company’s previous close.
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Other equities research analysts have also recently issued reports about the stock. BidaskClub raised shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Zacks Investment Research cut shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, ValuEngine cut shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $77.80.
Inter Parfums stock traded down $1.37 during mid-day trading on Thursday, reaching $75.43. 129,000 shares of the company were exchanged, compared to its average volume of 89,246. The company has a fifty day simple moving average of $73.08 and a 200-day simple moving average of $68.41. The firm has a market cap of $2.42 billion, a PE ratio of 44.11, a PEG ratio of 3.24 and a beta of 0.88. Inter Parfums has a 12 month low of $57.37 and a 12 month high of $81.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 2.24.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.18 million. Inter Parfums had a net margin of 8.43% and a return on equity of 10.15%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Sell-side analysts anticipate that Inter Parfums will post 1.9 earnings per share for the current year.
In related news, CFO Russell Greenberg sold 2,434 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $68.50, for a total transaction of $166,729.00. Following the sale, the chief financial officer now directly owns 66 shares of the company’s stock, valued at $4,521. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 11,933 shares of company stock worth $824,315 over the last three months. 44.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in IPAR. BlackRock Inc. lifted its holdings in Inter Parfums by 1.4% during the second quarter. BlackRock Inc. now owns 2,549,257 shares of the company’s stock valued at $169,501,000 after purchasing an additional 36,051 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Inter Parfums by 0.3% during the second quarter. Vanguard Group Inc. now owns 1,925,177 shares of the company’s stock valued at $128,005,000 after purchasing an additional 4,925 shares in the last quarter. Northern Trust Corp lifted its holdings in Inter Parfums by 1.0% during the second quarter. Northern Trust Corp now owns 759,514 shares of the company’s stock valued at $50,500,000 after purchasing an additional 7,721 shares in the last quarter. Granite Investment Partners LLC lifted its holdings in Inter Parfums by 1.1% during the second quarter. Granite Investment Partners LLC now owns 307,206 shares of the company’s stock valued at $20,426,000 after purchasing an additional 3,195 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Inter Parfums by 12.3% during the second quarter. Acadian Asset Management LLC now owns 232,560 shares of the company’s stock valued at $15,462,000 after purchasing an additional 25,418 shares in the last quarter. 53.75% of the stock is currently owned by hedge funds and other institutional investors.
Inter Parfums Company Profile
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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