Inter Parfums (IPAR) Downgraded to Hold at Zacks Investment Research

Inter Parfums (NASDAQ:IPAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Inter Parfums, Inc. is a premier fragrance company with a diverse portfolio of prestige brands. They has been selected as the fragrance and beauty partner for a growing list of brands that include Abercrombie & Fitch, Agent Provocateur, Anna Sui, bebe, Boucheron, Coach, Dunhill, Hollister, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Oscar de la Renta, Paul Smith, Repetto, Rochas, Shanghai Tang, S.T. Dupont and Van Cleef & Arpels. Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes worldwide. “

A number of other equities research analysts have also recently issued reports on the stock. Sidoti cut shares of Inter Parfums from a “buy” rating to a “neutral” rating in a research note on Thursday, November 2nd. DA Davidson dropped their price target on shares of Inter Parfums from $49.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 15th. Citigroup set a $52.00 price target on shares of Inter Parfums and gave the company a “buy” rating in a research note on Wednesday, January 3rd. BidaskClub cut shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Finally, KeyCorp set a $44.00 price target on shares of Inter Parfums and gave the company a “buy” rating in a research note on Monday, October 16th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.17.

Shares of Inter Parfums (NASDAQ IPAR) traded down $0.45 during midday trading on Thursday, hitting $45.90. 138,240 shares of the stock were exchanged, compared to its average volume of 101,990. The firm has a market cap of $1,445.51, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.62 and a beta of 1.77. Inter Parfums has a twelve month low of $31.50 and a twelve month high of $48.35. The company has a quick ratio of 2.54, a current ratio of 3.39 and a debt-to-equity ratio of 0.07.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The business had revenue of $169.50 million for the quarter, compared to analysts’ expectations of $160.52 million. During the same quarter last year, the company earned $0.52 EPS. The business’s revenue was up 7.6% on a year-over-year basis. equities analysts forecast that Inter Parfums will post 1.29 EPS for the current year.

In other Inter Parfums news, CFO Russell Greenberg sold 3,000 shares of Inter Parfums stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $45.00, for a total transaction of $135,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Pelayo Frederic Garcia sold 1,200 shares of Inter Parfums stock in a transaction on Friday, December 15th. The stock was sold at an average price of $45.10, for a total transaction of $54,120.00. Following the sale, the insider now directly owns 1,200 shares in the company, valued at approximately $54,120. The disclosure for this sale can be found here. Insiders sold a total of 44,595 shares of company stock worth $2,010,612 in the last three months. 45.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake 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 purchasing an additional 41,384 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Inter Parfums by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,424,957 shares of the company’s stock worth $58,780,000 after purchasing an additional 33,230 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its stake 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 purchasing an additional 143,072 shares during the last quarter. Northern Trust Corp boosted its stake 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 purchasing an additional 3,655 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Inter Parfums by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 583,002 shares of the company’s stock worth $24,048,000 after purchasing an additional 4,114 shares during the last quarter. 55.48% of the stock is currently owned by institutional investors.

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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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