Inter Parfums (NASDAQ:IPAR) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Inter Parfums (NASDAQ:IPAR) from a strong sell rating to a sell rating in a research note released on Saturday, BidAskClub reports.

A number of other research analysts have also weighed in on IPAR. DA Davidson raised shares of Inter Parfums from a neutral rating to a buy rating and set a $78.00 price target on the stock in a research report on Monday, June 10th. Zacks Investment Research raised shares of Inter Parfums from a hold rating to a buy rating and set a $77.00 price target on the stock in a research report on Tuesday, July 30th. Finally, ValuEngine lowered shares of Inter Parfums from a buy rating to a hold rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $76.20.

IPAR opened at $67.65 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.10. The company’s 50-day moving average is $66.17 and its 200 day moving average is $69.40. Inter Parfums has a fifty-two week low of $54.22 and a fifty-two week high of $80.99. The firm has a market capitalization of $2.12 billion, a P/E ratio of 39.56, a PEG ratio of 2.85 and a beta of 0.89.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Inter Parfums had a net margin of 8.33% and a return on equity of 9.84%. The company had revenue of $166.20 million for the quarter, compared to analyst estimates of $166.20 million. During the same period last year, the firm earned $0.35 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Inter Parfums will post 1.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.10 dividend on an annualized basis and a yield of 1.63%. Inter Parfums’s dividend payout ratio (DPR) is presently 64.33%.

In related news, CEO Jean Madar sold 52,800 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $67.18, for a total transaction of $3,547,104.00. Following the completion of the sale, the chief executive officer now owns 71,784 shares in the company, valued at $4,822,449.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 44.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd increased its holdings in Inter Parfums by 97.6% during the second quarter. Point72 Hong Kong Ltd now owns 737 shares of the company’s stock worth $49,000 after buying an additional 364 shares during the last quarter. CENTRAL TRUST Co purchased a new stake in Inter Parfums during the second quarter worth about $48,000. Krane Funds Advisors LLC purchased a new stake in Inter Parfums during the second quarter worth about $57,000. Marshall Wace North America L.P. purchased a new stake in Inter Parfums during the first quarter worth about $136,000. Finally, Huntington National Bank increased its holdings in Inter Parfums by 13.4% during the second quarter. Huntington National Bank now owns 2,193 shares of the company’s stock worth $146,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 54.11% of the company’s stock.

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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