Inter Parfums, Inc. (IPAR) Upgraded at Zacks Investment Research
Inter Parfums, Inc. (NASDAQ:IPAR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The firm presently has a $43.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.51% from the stock’s current price.
According to Zacks, “Inter Parfums, Inc. is a world-wide provider of prestige perfumes and mass market perfumes and cosmetics. They operate in the fragrance and cosmetic industry, specializing in prestige perfumes and mass market perfumes and cosmetics. “
A number of other research firms have also issued reports on IPAR. DA Davidson reissued a “buy” rating and set a $44.00 price target on shares of Inter Parfums in a report on Monday, May 8th. BidaskClub raised Inter Parfums from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, Jefferies Group LLC assumed coverage on Inter Parfums in a report on Friday, June 2nd. They set a “hold” rating and a $35.00 price target on the stock. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $39.57.
Shares of Inter Parfums (IPAR) traded up 0.13% during trading on Thursday, hitting $37.55. The stock had a trading volume of 56,862 shares. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 29.80 and a beta of 1.76. The stock’s 50-day moving average is $36.06 and its 200-day moving average is $35.38. Inter Parfums has a 12-month low of $27.05 and a 12-month high of $41.70.
Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. Inter Parfums had a return on equity of 8.10% and a net margin of 7.12%. The firm had revenue of $143.10 million for the quarter, compared to analyst estimates of $120.05 million. During the same quarter last year, the company posted $0.24 earnings per share. The business’s revenue was up 28.3% on a year-over-year basis. On average, equities research analysts expect that Inter Parfums will post $1.25 EPS for the current year.
Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in Inter Parfums by 39.4% in the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after buying an additional 985 shares during the last quarter. First National Bank of Omaha increased its stake in Inter Parfums by 21.4% in the first quarter. First National Bank of Omaha now owns 21,530 shares of the company’s stock worth $787,000 after buying an additional 3,793 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in Inter Parfums during the first quarter worth about $1,905,000. Stifel Financial Corp increased its stake in Inter Parfums by 19.3% in the first quarter. Stifel Financial Corp now owns 317,683 shares of the company’s stock worth $11,621,000 after buying an additional 51,434 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Inter Parfums during the first quarter worth about $479,000. Institutional investors own 55.14% of the company’s stock.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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