BidaskClub Downgrades Inter Parfums (NASDAQ:IPAR) to Strong Sell
A number of other brokerages also recently commented on IPAR. Zacks Investment Research upgraded Inter Parfums from a hold rating to a buy rating and set a $88.00 price objective for the company in a research report on Friday, March 8th. Citigroup increased their price objective on Inter Parfums from $64.00 to $79.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Raymond James increased their price objective on Inter Parfums from $68.00 to $82.00 and gave the company an outperform rating in a research report on Tuesday, March 5th. Finally, DA Davidson downgraded Inter Parfums from a buy rating to a neutral rating and increased their price objective for the company from $72.00 to $84.00 in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Inter Parfums presently has an average rating of Hold and a consensus price target of $74.00.
IPAR opened at $67.67 on Tuesday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.10 and a quick ratio of 2.20. Inter Parfums has a 1-year low of $52.65 and a 1-year high of $80.99.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, June 27th. Inter Parfums’s dividend payout ratio (DPR) is currently 64.33%.
A number of large investors have recently made changes to their positions in IPAR. Norges Bank acquired a new stake in Inter Parfums during the 4th quarter valued at $9,528,000. Wells Fargo & Company MN raised its stake in Inter Parfums by 214.8% during the 1st quarter. Wells Fargo & Company MN now owns 138,083 shares of the company’s stock valued at $10,477,000 after purchasing an additional 94,213 shares during the period. Stifel Financial Corp raised its stake in Inter Parfums by 40.0% during the 4th quarter. Stifel Financial Corp now owns 291,448 shares of the company’s stock valued at $19,112,000 after purchasing an additional 83,257 shares during the period. Marshall Wace LLP acquired a new stake in Inter Parfums during the 1st quarter valued at $5,917,000. Finally, Fort Pitt Capital Group LLC raised its stake in Inter Parfums by 14.0% during the 4th quarter. Fort Pitt Capital Group LLC now owns 515,915 shares of the company’s stock valued at $33,829,000 after purchasing an additional 63,286 shares during the period. 55.38% of the stock is currently owned by institutional investors.
Inter Parfums Company Profile
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 Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
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