BidaskClub Downgrades Inter Parfums (NASDAQ:IPAR) to Buy

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BidaskClub downgraded shares of Inter Parfums (NASDAQ:IPAR) from a strong-buy rating to a buy rating in a report published on Saturday morning, BidAskClub reports.

Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Inter Parfums from a buy rating to a hold rating in a research report on Wednesday, September 25th. ValuEngine cut Inter Parfums from a buy rating to a hold rating in a research report on Thursday, August 1st. Citigroup lifted their price objective on Inter Parfums from $73.00 to $83.00 and gave the company a neutral rating in a research report on Thursday. Finally, DA Davidson cut Inter Parfums from a buy rating to a neutral rating and lifted their price objective for the company from $78.00 to $82.00 in a research report on Thursday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Inter Parfums currently has a consensus rating of Hold and a consensus price target of $77.80.

Shares of NASDAQ:IPAR traded down $0.57 on Friday, hitting $77.17. 63,900 shares of the company traded hands, compared to its average volume of 109,476. Inter Parfums has a 52 week low of $55.25 and a 52 week high of $81.40. The company has a quick ratio of 2.10, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The company has a market cap of $2.47 billion, a PE ratio of 45.13, a PEG ratio of 3.33 and a beta of 0.88. The stock has a 50 day simple moving average of $72.02 and a 200-day simple moving average of $68.31.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.01). Inter Parfums had a net margin of 8.43% and a return on equity of 10.15%. The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.18 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Inter Parfums will post 1.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.33 dividend. The ex-dividend date is Monday, December 30th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.28. This represents a $1.32 dividend on an annualized basis and a yield of 1.71%. Inter Parfums’s payout ratio is currently 64.33%.

In related news, CFO Russell Greenberg sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $70.20, for a total value of $351,000.00. Following the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $351,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 11,933 shares of company stock worth $824,315. 44.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mason Street Advisors LLC lifted its holdings in Inter Parfums by 3.6% in the 3rd quarter. Mason Street Advisors LLC now owns 5,980 shares of the company’s stock worth $418,000 after purchasing an additional 206 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in Inter Parfums by 24.2% in the 3rd quarter. Eagle Asset Management Inc. now owns 137,583 shares of the company’s stock worth $9,626,000 after purchasing an additional 26,832 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Inter Parfums by 1,203.9% in the 3rd quarter. SG Americas Securities LLC now owns 37,645 shares of the company’s stock worth $2,634,000 after purchasing an additional 34,758 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in Inter Parfums by 1.5% in the 3rd quarter. Congress Asset Management Co. MA now owns 94,254 shares of the company’s stock worth $6,595,000 after purchasing an additional 1,366 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Inter Parfums by 137.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 68,066 shares of the company’s stock worth $4,715,000 after purchasing an additional 39,368 shares in the last quarter. 53.50% of the stock is currently owned by institutional investors.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.

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