State Board of Administration of Florida Retirement System decreased its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 12.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,983 shares of the company’s stock after selling 1,356 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Inter Parfums were worth $463,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in IPAR. Advisor Group Inc. raised its position in Inter Parfums by 72.6% during the fourth quarter. Advisor Group Inc. now owns 887 shares of the company’s stock valued at $64,000 after acquiring an additional 373 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Inter Parfums by 23.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the company’s stock valued at $89,000 after acquiring an additional 234 shares in the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Inter Parfums in the fourth quarter valued at approximately $205,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Inter Parfums in the fourth quarter valued at approximately $226,000. Finally, Amalgamated Bank increased its position in shares of Inter Parfums by 4.9% in the fourth quarter. Amalgamated Bank now owns 3,428 shares of the company’s stock valued at $249,000 after buying an additional 160 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.
IPAR has been the subject of a number of recent analyst reports. TheStreet cut Inter Parfums from a “b-” rating to a “c+” rating in a research report on Thursday, April 9th. Oppenheimer upgraded Inter Parfums from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $29.00 to $36.00 in a research report on Wednesday, May 13th. Citigroup cut their price objective on Inter Parfums from $76.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, March 4th. Cfra cut their price objective on Inter Parfums from $75.00 to $62.00 and set a “hold” rating for the company in a research report on Tuesday, March 3rd. Finally, BidaskClub upgraded Inter Parfums from a “strong sell” rating to a “sell” rating in a research report on Friday, March 20th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.50.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.09). Inter Parfums had a net margin of 7.56% and a return on equity of 8.57%. The business had revenue of $144.82 million during the quarter, compared to analyst estimates of $157.85 million. During the same period last year, the company earned $0.60 EPS. The business’s revenue for the quarter was down 18.7% on a year-over-year basis. As a group, sell-side analysts forecast that Inter Parfums, Inc. will post 1.02 EPS for the current year.
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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