Inter Parfums (NASDAQ:IPAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm presently has a $50.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 13.77% from the company’s current price.
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 analysts have also weighed in on IPAR. KeyCorp set a $44.00 target price on Inter Parfums and gave the company a “buy” rating in a research note on Monday, October 16th. DA Davidson lowered Inter Parfums from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research note on Thursday, October 26th. Sidoti lowered Inter Parfums from a “buy” rating to a “neutral” rating in a research note on Thursday, November 2nd. BidaskClub lowered Inter Parfums from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Finally, Citigroup set a $52.00 target price on Inter Parfums and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.67.
Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. Inter Parfums had a return on equity of 8.06% and a net margin of 7.13%. The company had revenue of $169.50 million during the quarter, compared to analyst estimates of $160.52 million. During the same period last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. sell-side analysts predict that Inter Parfums will post 1.29 EPS for the current year.
In related news, CFO Russell Greenberg sold 7,595 shares of Inter Parfums stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $47.59, for a total value of $361,446.05. Following the completion of the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at $237,950. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Philippe Santi sold 600 shares of Inter Parfums stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $43.86, for a total value of $26,316.00. Following the completion of the sale, the chief financial officer now owns 600 shares of the company’s stock, valued at $26,316. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,595 shares of company stock valued at $2,010,612. Corporate insiders own 45.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors increased its position in Inter Parfums by 20.2% in the second quarter. Nationwide Fund Advisors now owns 34,850 shares of the company’s stock worth $1,277,000 after purchasing an additional 5,856 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Inter Parfums in the second quarter worth about $1,012,000. AHL Partners LLP acquired a new stake in Inter Parfums in the second quarter worth about $242,000. OxFORD Asset Management LLP acquired a new stake in Inter Parfums in the third quarter worth about $904,000. Finally, Fort Pitt Capital Group LLC increased its position in Inter Parfums by 31.6% in the second quarter. Fort Pitt Capital Group LLC now owns 386,988 shares of the company’s stock worth $14,183,000 after purchasing an additional 92,965 shares during the period. Hedge funds and other institutional investors own 55.50% of the company’s stock.
Inter Parfums Company Profile
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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