Zacks Investment Research cut shares of Inter Parfums, Inc. (NASDAQ:IPAR) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “Inter Parfums, Inc. is a world-wide provider of prestige perfumes and mass market perfumes and cosmetics. They operate in the fragrance and cosmetic industry, specializing in prestige perfumes and mass market perfumes and cosmetics. “

Separately, B. Riley restated a buy rating and issued a $40.00 target price on shares of Inter Parfums in a research note on Tuesday, November 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $37.67.

Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

Shares of Inter Parfums (NASDAQ:IPAR) traded up 0.27% during midday trading on Tuesday, hitting $37.45. 8,302 shares of the company traded hands. Inter Parfums has a 52 week low of $27.05 and a 52 week high of $37.85. The company has a 50-day moving average price of $34.94 and a 200-day moving average price of $33.42. The stock has a market capitalization of $1.17 billion, a P/E ratio of 35.00 and a beta of 1.59.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Monday, March 13th. The company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.04. The business had revenue of $134.80 million for the quarter, compared to the consensus estimate of $125.17 million. Inter Parfums had a net margin of 6.20% and a return on equity of 6.62%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. Analysts anticipate that Inter Parfums will post $1.25 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $0.68 annualized dividend and a dividend yield of 1.82%. Inter Parfums’s payout ratio is presently 67.33%.

In other news, insider Henry B. Clarke sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, December 30th. The shares were sold at an average price of $32.75, for a total value of $49,125.00. Following the completion of the sale, the insider now owns 3,125 shares of the company’s stock, valued at approximately $102,343.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 45.50% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in shares of Inter Parfums by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 245,031 shares of the company’s stock valued at $7,977,000 after buying an additional 1,473 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Inter Parfums by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,790 shares of the company’s stock valued at $122,000 after buying an additional 60 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Inter Parfums by 3.2% in the third quarter. Rhumbline Advisers now owns 38,308 shares of the company’s stock valued at $1,236,000 after buying an additional 1,202 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Inter Parfums by 8.8% in the third quarter. BlackRock Fund Advisors now owns 1,218,671 shares of the company’s stock valued at $39,327,000 after buying an additional 98,661 shares during the last quarter. Finally, ARGI Investment Services LLC boosted its stake in shares of Inter Parfums by 14.6% in the third quarter. ARGI Investment Services LLC now owns 27,522 shares of the company’s stock valued at $888,000 after buying an additional 3,504 shares during the last quarter. 55.42% of the stock is owned by hedge funds and other institutional investors.

Inter Parfums Company Profile

Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.

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