Inter Parfums (NASDAQ:IPAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $52.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 6.56% 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. “
IPAR has been the topic of several other reports. BidaskClub lowered Inter Parfums from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. KeyCorp lowered Inter Parfums from an “overweight” rating to a “sector weight” rating in a research report on Monday, January 22nd. Citigroup lowered Inter Parfums from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research report on Monday, January 22nd. BWS Financial set a $56.00 price target on Inter Parfums and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, DA Davidson raised Inter Parfums from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $51.00 in a research report on Wednesday, January 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Inter Parfums has a consensus rating of “Buy” and an average target price of $48.33.
Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, March 13th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $149.50 million for the quarter, compared to analyst estimates of $147.98 million. Inter Parfums had a return on equity of 7.68% and a net margin of 7.03%. Inter Parfums’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. analysts expect that Inter Parfums will post 1.52 EPS for the current year.
In other Inter Parfums news, CFO Russell Greenberg sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $47.50, for a total value of $237,500.00. Following the transaction, the chief financial officer now owns 5,000 shares in the company, valued at $237,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pelayo Frederic Garcia sold 6,400 shares of the business’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $46.43, for a total value of $297,152.00. Following the completion of the transaction, the insider now owns 1,200 shares in the company, valued at approximately $55,716. The disclosure for this sale can be found here. Insiders have sold 23,595 shares of company stock worth $1,116,898 over the last three months. 45.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of IPAR. First Trust Advisors LP grew its stake in Inter Parfums by 31.8% in the third quarter. First Trust Advisors LP now owns 11,158 shares of the company’s stock valued at $460,000 after purchasing an additional 2,692 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Inter Parfums by 43.2% in the third quarter. BNP Paribas Arbitrage SA now owns 9,639 shares of the company’s stock valued at $398,000 after purchasing an additional 2,906 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Inter Parfums by 36.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,890 shares of the company’s stock worth $366,000 after acquiring an additional 2,390 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 acquiring an additional 4,114 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Inter Parfums by 46.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 44,241 shares of the company’s stock worth $1,863,000 after acquiring an additional 13,965 shares in the last quarter. Hedge funds and other institutional investors own 55.05% of the company’s stock.
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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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