Inter Parfums Upgraded to Buy by Citigroup Inc. (IPAR)
Inter Parfums (NASDAQ:IPAR) was upgraded by investment analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
Shares of Inter Parfums (NASDAQ:IPAR) opened at 29.00 on Friday. Inter Parfums has a one year low of $25.62 and a one year high of $38.94. The stock has a 50-day moving average of $27.73 and a 200-day moving average of $31.29. The company has a market cap of $897.2 million and a price-to-earnings ratio of 47.28.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.02. The company had revenue of $118.20 million for the quarter, compared to the consensus estimate of $118.23 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that Inter Parfums will post $0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, September 26th.
A number of other analysts have also recently weighed in on IPAR. Analysts at Zacks downgraded shares of Inter Parfums from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 7th. They now have a $25.50 price target on the stock. Separately, analysts at B. Riley cut their price target on shares of Inter Parfums from $40.00 to $35.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer cut their price target on shares of Inter Parfums from $39.00 to $36.00 in a research note on Thursday, July 24th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $32.17.
Inter Parfums, Inc operates in the fragrance business, and manufactures, markets and distributes an array of fragrances and fragrance related products.
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