Inter Parfums (NASDAQ:IPAR) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $53.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 14.59% from the company’s previous close.
According to Zacks, “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 Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T. Dupont, Repetto, Rochas, Van Cleef & Arpels, Abercrombie & Fitch, Agent Provocateur, Anna Sui, bebe, Dunhill, Hollister, French Connection, Gap, Oscar de la Renta, and Shanghai Tang brands. It markets and sells its products to department stores, perfumeries, specialty retailers, mass market retailers, supermarkets, domestic and international wholesalers, and distributors. The company was formerly known as Jean Philippe Fragrances, Inc. and later changed its name to Inter Parfums, Inc. “
IPAR has been the subject of a number of other reports. DA Davidson reduced their price objective on shares of Inter Parfums from $49.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, November 15th. Sidoti cut shares of Inter Parfums from a “buy” rating to a “neutral” rating in a research report on Thursday, November 2nd. Citigroup set a $52.00 price objective on shares of Inter Parfums and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. BidaskClub cut shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Finally, KeyCorp set a $44.00 price objective on shares of Inter Parfums and gave the stock a “buy” rating in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Inter Parfums has a consensus rating of “Buy” and an average price target of $46.17.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. The company had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $160.52 million. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. research analysts anticipate that Inter Parfums will post 1.29 earnings per share for the current year.
In other news, CFO Russell Greenberg sold 3,000 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $45.00, for a total transaction of $135,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Philippe Santi sold 600 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $43.86, for a total transaction of $26,316.00. Following the sale, the chief financial officer now directly owns 600 shares of the company’s stock, valued at approximately $26,316. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock valued at $1,411,666 in the last ninety days. Insiders own 45.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC grew its holdings in shares of Inter Parfums by 68.9% during the second quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock worth $116,000 after buying an additional 1,296 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Inter Parfums by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,097 shares of the company’s stock worth $150,000 after buying an additional 614 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Inter Parfums during the third quarter worth $218,000. AHL Partners LLP purchased a new stake in shares of Inter Parfums during the second quarter worth $242,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Inter Parfums by 70.3% during the second quarter. BNP Paribas Arbitrage SA now owns 6,733 shares of the company’s stock worth $247,000 after buying an additional 2,779 shares in the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.
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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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