Inter Parfums, Inc. (IPAR) Receives Average Recommendation of “Buy” from Brokerages

Inter Parfums, Inc. (NASDAQ:IPAR) has been assigned an average recommendation of “Buy” from the ten brokerages that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $67.75.

Several research firms have recently weighed in on IPAR. Zacks Investment Research upgraded Inter Parfums from a “hold” rating to a “strong-buy” rating and set a $68.00 price target for the company in a research note on Saturday, October 27th. DA Davidson boosted their price target on Inter Parfums to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. BidaskClub cut Inter Parfums from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. Jefferies Financial Group set a $60.00 price target on Inter Parfums and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Finally, Citigroup set a $64.00 price target on Inter Parfums and gave the stock a “hold” rating in a research note on Wednesday, November 7th.

In related news, CFO Russell Greenberg sold 1,059 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $66.50, for a total transaction of $70,423.50. Following the completion of the sale, the chief financial officer now owns 44 shares in the company, valued at $2,926. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pelayo Frederic Garcia sold 3,600 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $65.20, for a total value of $234,720.00. Following the sale, the insider now owns 1,000 shares of the company’s stock, valued at approximately $65,200. The disclosure for this sale can be found here. 45.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in Inter Parfums during the second quarter valued at $150,000. SG Americas Securities LLC increased its position in Inter Parfums by 58.6% during the second quarter. SG Americas Securities LLC now owns 4,002 shares of the company’s stock valued at $214,000 after acquiring an additional 1,478 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Inter Parfums during the second quarter valued at $215,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Inter Parfums during the third quarter valued at $265,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Inter Parfums during the second quarter valued at $241,000. Institutional investors own 54.11% of the company’s stock.

IPAR stock opened at $58.76 on Monday. Inter Parfums has a 1-year low of $41.30 and a 1-year high of $67.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.37. The firm has a market capitalization of $1.84 billion, a PE ratio of 44.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.30.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Inter Parfums had a return on equity of 8.60% and a net margin of 7.74%. The firm had revenue of $177.21 million during the quarter, compared to analysts’ expectations of $181.14 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. As a group, research analysts anticipate that Inter Parfums will post 1.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, December 28th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.21. Inter Parfums’s dividend payout ratio is 63.16%.

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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Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

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