Inter Parfums (NASDAQ:IPAR) Sets New 1-Year Low Following Analyst Downgrade

Inter Parfums, Inc. (NASDAQ:IPAR)’s stock price reached a new 52-week low during 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 set a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

Institutional investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. bought a new position in shares of Inter Parfums in the fourth quarter worth about $27,000. Principal Securities Inc. bought a new stake in shares of Inter Parfums during the fourth quarter worth approximately $30,000. Signaturefd LLC raised its stake in shares of Inter Parfums by 87.4% during the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Inter Parfums during the fourth quarter worth approximately $33,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of Inter Parfums by 84.0% during the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock worth $37,000 after buying an additional 121 shares during the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Stock Performance

The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 24.84 and a beta of 1.13. The stock’s fifty day moving average is $137.92 and its 200-day moving average is $135.52. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $328.74 million for the quarter, compared to analyst estimates of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, analysts forecast that Inter Parfums, Inc. will post 5.16 EPS 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 $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. 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.