Inter Parfums (NASDAQ:IPAR) Reaches New 12-Month Low on Analyst Downgrade

Inter Parfums, Inc. (NASDAQ:IPAR)’s stock price hit a new 52-week low during mid-day trading on Thursday after Piper Sandler lowered their price target on the stock from $176.00 to $172.00. Piper Sandler currently has an overweight rating on the stock. Inter Parfums traded as low as $119.20 and last traded at $119.31, with a volume of 65895 shares traded. The stock had previously closed at $130.52.

Separately, BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Wednesday, April 17th.

Insider Activity at Inter Parfums

In related news, Director Gilbert Harrison sold 250 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a filing with the SEC, which is available at this link. 43.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inter Parfums

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in Inter Parfums by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock worth $1,641,000 after purchasing an additional 81 shares during the last quarter. Comerica Bank lifted its stake in Inter Parfums by 0.7% during the fourth quarter. Comerica Bank now owns 11,360 shares of the company’s stock worth $1,636,000 after purchasing an additional 83 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Inter Parfums by 0.8% during the third quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock worth $1,721,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC lifted its stake in Inter Parfums by 87.4% during the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Inter Parfums by 4.9% during the fourth quarter. Fifth Third Bancorp now owns 2,567 shares of the company’s stock worth $370,000 after purchasing an additional 120 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Stock Up 1.3 %

The firm has a 50 day simple moving average of $137.26 and a two-hundred day simple moving average of $135.40. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.83 billion, a P/E ratio of 25.17 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last released its earnings results 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). The business had revenue of $328.74 million for the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.71 earnings per share. On average, equities research analysts expect that Inter Parfums, Inc. will post 5.16 earnings per share for the current year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 2.51%. Inter Parfums’s dividend payout ratio is 63.16%.

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.