Inter Parfums, Inc. (IPAR) Lifted to Buy at Zacks Investment Research
Inter Parfums, Inc. (NASDAQ:IPAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $46.00 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 13.16% from the company’s previous close.
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. “
IPAR has been the subject of several other research reports. BidaskClub upgraded Inter Parfums from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC assumed coverage on Inter Parfums in a research report on Friday, June 2nd. They issued a “hold” rating and a $35.00 price objective for the company. Citigroup Inc. reiterated a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Finally, DA Davidson reiterated a “buy” rating and issued a $45.00 price objective (up previously from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $42.60.
Inter Parfums (NASDAQ:IPAR) traded down 2.21% on Thursday, hitting $39.75. The stock had a trading volume of 54,089 shares. Inter Parfums has a 1-year low of $29.40 and a 1-year high of $41.70. The firm has a market cap of $1.24 billion, a P/E ratio of 30.81 and a beta of 1.77. The firm’s 50-day moving average price is $39.09 and its 200-day moving average price is $36.93.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Inter Parfums had a return on equity of 6.85% and a net margin of 7.13%. The firm had revenue of $129.10 million during the quarter, compared to the consensus estimate of $122.57 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Inter Parfums will post $1.28 earnings per share for the current year.
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In other news, CFO Russell Greenberg sold 2,500 shares of Inter Parfums stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $39.60, for a total value of $99,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at approximately $217,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 45.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPAR. Teachers Advisors LLC increased its stake in shares of Inter Parfums by 2.7% in the 4th quarter. Teachers Advisors LLC now owns 28,027 shares of the company’s stock valued at $918,000 after buying an additional 734 shares during the period. Bank of Montreal Can increased its stake in shares of Inter Parfums by 13.0% in the 1st quarter. Bank of Montreal Can now owns 3,733 shares of the company’s stock valued at $137,000 after buying an additional 430 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Inter Parfums by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the company’s stock valued at $256,000 after buying an additional 100 shares during the period. Nationwide Fund Advisors increased its stake in shares of Inter Parfums by 4.8% in the 1st quarter. Nationwide Fund Advisors now owns 28,994 shares of the company’s stock valued at $1,060,000 after buying an additional 1,322 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Inter Parfums by 3.4% in the 1st quarter. Russell Investments Group Ltd. now owns 23,058 shares of the company’s stock valued at $843,000 after buying an additional 758 shares during the period. 55.61% of the stock is owned by institutional investors.
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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