Sidoti Lowers Inter Parfums, Inc. (IPAR) to Neutral
Inter Parfums, Inc. (NASDAQ:IPAR) was downgraded by analysts at Sidoti from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.
Several other equities research analysts also recently weighed in on IPAR. DA Davidson reissued a “buy” rating and issued a $45.00 target price (up previously from $44.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Zacks Investment Research downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. KeyCorp set a $44.00 target price on shares of Inter Parfums and gave the company a “buy” rating in a research note on Monday, October 16th. Citigroup Inc. reissued a “buy” rating and issued a $45.00 target price (up previously from $42.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Finally, BidaskClub raised shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Inter Parfums presently has an average rating of “Buy” and an average target price of $44.50.
Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Monday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. The business had revenue of $129.10 million for the quarter, compared to the consensus estimate of $122.57 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis.
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In related news, CFO Russell Greenberg sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $39.10, for a total value of $97,750.00. Following the transaction, the chief financial officer now owns 5,500 shares of the company’s stock, valued at approximately $215,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Torres Robert Bensoussan sold 6,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $42.09, for a total transaction of $252,540.00. The disclosure for this sale can be found here. Insiders sold a total of 11,750 shares of company stock worth $480,483 in the last ninety days. 45.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Inter Parfums by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,689,917 shares of the company’s stock worth $61,935,000 after acquiring an additional 41,384 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Inter Parfums by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,391,727 shares of the company’s stock worth $51,007,000 after acquiring an additional 16,317 shares in the last quarter. Atlanta Capital Management Co. L L C grew its holdings in Inter Parfums by 14.0% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock worth $42,825,000 after acquiring an additional 143,072 shares in the last quarter. Northern Trust Corp grew its holdings in Inter Parfums by 0.5% during the 2nd quarter. Northern Trust Corp now owns 748,819 shares of the company’s stock worth $27,446,000 after acquiring an additional 3,655 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in Inter Parfums by 20.4% during the 2nd quarter. Royce & Associates LP now owns 600,255 shares of the company’s stock worth $21,999,000 after acquiring an additional 101,565 shares in the last quarter. Institutional investors own 55.82% 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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