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

Inter Parfums, Inc. (NASDAQ:IPAR) shares reached 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. The stock had previously closed at $130.52.

Separately, BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a report on Wednesday, April 17th.

Insider Transactions at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $150,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

Hedge funds have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Inter Parfums during the 4th quarter worth $27,000. Principal Securities Inc. bought a new stake in shares of Inter Parfums during the 4th quarter worth $30,000. Signaturefd LLC raised its stake in shares of Inter Parfums by 87.4% during the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Inter Parfums during the 4th quarter worth $33,000. Finally, Hexagon Capital Partners LLC raised its stake in Inter Parfums by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 121 shares during the period. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Stock Down 9.6 %

The stock has a 50 day moving average of $137.92 and a 200-day moving average of $135.52. The firm has a market capitalization of $3.78 billion, a P/E ratio of 24.84 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58.

Inter Parfums (NASDAQ:IPAR) last announced 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). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Research analysts predict that Inter Parfums, Inc. will post 5.16 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently disclosed 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. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.54%. Inter Parfums’s payout ratio is presently 63.16%.

About Inter Parfums

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.