Piper Sandler Cuts Inter Parfums (NASDAQ:IPAR) Price Target to $155.00

Inter Parfums (NASDAQ:IPAR) had its price target decreased by Piper Sandler from $158.00 to $155.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. BWS Financial restated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, November 11th. DA Davidson reissued a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a research report on Tuesday. Finally, StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.50.

Inter Parfums Trading Down 4.6 %

NASDAQ IPAR opened at $124.65 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $122.71 and a 200 day simple moving average of $122.57. Inter Parfums has a 12 month low of $108.39 and a 12 month high of $156.75. The firm has a market capitalization of $3.99 billion, a P/E ratio of 26.75 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. During the same quarter in the prior year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts predict that Inter Parfums will post 5.15 EPS for the current fiscal year.

Inter Parfums Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.00 annualized dividend and a yield of 2.41%. Inter Parfums’s payout ratio is 64.38%.

Insiders Place Their Bets

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 43.90% of the company’s stock.

Institutional Trading of Inter Parfums

Several hedge funds and other institutional investors have recently modified their holdings of IPAR. Geode Capital Management LLC boosted its holdings in Inter Parfums by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after buying an additional 5,056 shares during the period. Barclays PLC lifted its position in shares of Inter Parfums by 293.0% during the third quarter. Barclays PLC now owns 34,689 shares of the company’s stock worth $4,492,000 after acquiring an additional 25,862 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Inter Parfums by 6.7% in the third quarter. MML Investors Services LLC now owns 9,383 shares of the company’s stock worth $1,215,000 after acquiring an additional 590 shares during the period. Orion Portfolio Solutions LLC purchased a new position in shares of Inter Parfums in the third quarter valued at $233,000. Finally, Wellington Management Group LLP lifted its holdings in Inter Parfums by 44.2% during the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after purchasing an additional 99,316 shares in the last quarter. 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.