Inter Parfums (NASDAQ:IPAR) Price Target Cut to $172.00

Inter Parfums (NASDAQ:IPAR) had its price target cut by Piper Sandler from $176.00 to $172.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, BWS Financial reiterated a buy rating and set a $172.00 price objective on shares of Inter Parfums in a report on Wednesday, April 17th.

Inter Parfums Trading Down 9.6 %

Shares of IPAR stock opened at $118.01 on Thursday. Inter Parfums has a fifty-two week low of $116.75 and a fifty-two week high of $158.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58. The stock has a 50 day simple moving average of $137.92 and a two-hundred day simple moving average of $135.52. The company has a market cap of $3.78 billion, a P/E ratio of 24.84 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The company had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. Research analysts forecast that Inter Parfums will post 5.16 earnings per share for the current year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.75 dividend. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Thursday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is currently 63.16%.

Insider Activity

In related news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 43.90% of the company’s stock.

Institutional Trading of Inter Parfums

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Inter Parfums in the 3rd quarter worth approximately $1,294,000. Raymond James & Associates grew its stake in shares of Inter Parfums by 2.2% during the 3rd quarter. Raymond James & Associates now owns 102,298 shares of the company’s stock worth $13,743,000 after acquiring an additional 2,236 shares during the period. Redwood Investments LLC purchased a new stake in Inter Parfums in the 3rd quarter worth about $6,865,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Inter Parfums by 13.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,905 shares of the company’s stock valued at $525,000 after purchasing an additional 478 shares during the last quarter. Finally, Strs Ohio boosted its position in Inter Parfums by 2.7% during the third quarter. Strs Ohio now owns 7,600 shares of the company’s stock worth $1,020,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Company Profile

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