Inter Parfums, Inc. (NASDAQ:IPAR) has been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $48.50.
A number of analysts have recently issued reports on the stock. DA Davidson raised shares of Inter Parfums from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $51.00 in a report on Wednesday, January 10th. Zacks Investment Research downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. BidaskClub downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Citigroup set a $52.00 price target on shares of Inter Parfums and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, BWS Financial set a $56.00 price target on shares of Inter Parfums and gave the company a “buy” rating in a report on Monday, February 26th.
Shares of IPAR stock traded down $0.60 during mid-day trading on Wednesday, reaching $46.95. 72,061 shares of the company traded hands, compared to its average volume of 122,584. Inter Parfums has a one year low of $34.05 and a one year high of $49.30. The stock has a market cap of $1,486.93, a P/E ratio of 34.81, a price-to-earnings-growth ratio of 2.55 and a beta of 1.70. The company has a quick ratio of 2.47, a current ratio of 3.29 and a debt-to-equity ratio of 0.06.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Wednesday, March 28th. Inter Parfums’s payout ratio is presently 62.69%.
In other news, CFO Philippe Santi sold 4,600 shares of the firm’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $48.00, for a total transaction of $220,800.00. Following the sale, the chief financial officer now owns 600 shares of the company’s stock, valued at approximately $28,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Russell Greenberg sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $47.50, for a total transaction of $237,500.00. Following the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $237,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,195 shares of company stock worth $819,746. Insiders own 45.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of IPAR. BlackRock Inc. boosted its holdings in shares of Inter Parfums by 5.5% in the fourth quarter. BlackRock Inc. now owns 2,773,519 shares of the company’s stock worth $120,509,000 after buying an additional 144,319 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Inter Parfums in the fourth quarter worth approximately $1,458,000. Dimensional Fund Advisors LP boosted its holdings in shares of Inter Parfums by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,424,957 shares of the company’s stock worth $58,780,000 after buying an additional 33,230 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Inter Parfums by 115.0% in the fourth quarter. Wells Fargo & Company MN now owns 56,545 shares of the company’s stock worth $2,458,000 after buying an additional 30,239 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Inter Parfums by 6.8% in the third quarter. Stifel Financial Corp now owns 395,782 shares of the company’s stock worth $16,335,000 after buying an additional 25,347 shares during the last quarter. 55.05% 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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