Inter Parfums (NASDAQ:IPAR) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday, November 27th, BidAskClub reports.
Several other research firms have also recently commented on IPAR. Zacks Investment Research cut Inter Parfums from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. ValuEngine lowered shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, DA Davidson cut their target price on Inter Parfums from $82.00 to $76.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Inter Parfums has an average rating of “Hold” and a consensus target price of $75.80.
Inter Parfums stock traded up $1.71 during mid-day trading on Wednesday, hitting $72.25. 235,911 shares of the company were exchanged, compared to its average volume of 94,959. The company has a market capitalization of $2.22 billion, a P/E ratio of 42.25, a PEG ratio of 2.97 and a beta of 0.86. Inter Parfums has a 12-month low of $58.50 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. The business’s 50 day simple moving average is $73.24 and its two-hundred day simple moving average is $68.89.
Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, November 5th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.01). Inter Parfums had a return on equity of 10.15% and a net margin of 8.43%. The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.18 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Inter Parfums will post 1.9 earnings per share for the current year.
In other news, CFO Russell Greenberg sold 2,434 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $68.50, for a total transaction of $166,729.00. Following the completion of the transaction, the chief financial officer now directly owns 66 shares in the company, valued at approximately $4,521. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jean Madar sold 3,980 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $70.03, for a total value of $278,719.40. Following the completion of the sale, the chief executive officer now directly owns 3,980 shares of the company’s stock, valued at $278,719.40. The disclosure for this sale can be found here. Insiders have sold a total of 24,484 shares of company stock worth $1,725,646 over the last three months. 44.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of IPAR. New York State Teachers Retirement System grew its position in shares of Inter Parfums by 31.3% during the 2nd quarter. New York State Teachers Retirement System now owns 10,075 shares of the company’s stock valued at $670,000 after buying an additional 2,400 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Inter Parfums by 19.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,620 shares of the company’s stock valued at $1,172,000 after purchasing an additional 2,810 shares during the period. Huntington National Bank raised its stake in Inter Parfums by 13.4% during the 2nd quarter. Huntington National Bank now owns 2,193 shares of the company’s stock valued at $146,000 after acquiring an additional 259 shares in the last quarter. Smith Asset Management Group LP bought a new stake in Inter Parfums during the 2nd quarter valued at $174,000. Finally, First Trust Advisors LP boosted its position in Inter Parfums by 48.1% during the 2nd quarter. First Trust Advisors LP now owns 89,906 shares of the company’s stock worth $5,978,000 after acquiring an additional 29,215 shares during the period. Institutional investors own 54.49% 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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