Inter Parfums (NASDAQ:IPAR) Raised to Buy at Citigroup

Citigroup upgraded shares of Inter Parfums (NASDAQ:IPAR – Get Rating) from a neutral rating to a buy rating in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have $99.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. DA Davidson reaffirmed a buy rating and set a $131.00 target price on shares of Inter Parfums in a research note on Friday, March 4th. StockNews.com initiated coverage on shares of Inter Parfums in a research note on Thursday, March 31st. They set a hold rating on the stock. Finally, Zacks Investment Research downgraded shares of Inter Parfums from a buy rating to a hold rating and set a $92.00 target price on the stock. in a research note on Tuesday, March 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $111.75.

Shares of IPAR stock opened at $70.59 on Monday. The firm’s 50-day moving average is $82.59 and its two-hundred day moving average is $90.46. The company has a market capitalization of $2.25 billion, a PE ratio of 23.77 and a beta of 1.02. Inter Parfums has a 12 month low of $67.00 and a 12 month high of $108.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.94 and a quick ratio of 2.03.

Inter Parfums (NASDAQ:IPAR – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.16. The business had revenue of $250.68 million for the quarter, compared to the consensus estimate of $240.04 million. Inter Parfums had a net margin of 10.20% and a return on equity of 12.74%. The business’s revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. Sell-side analysts forecast that Inter Parfums will post 3.02 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.83%. The ex-dividend date is Tuesday, June 14th. Inter Parfums’s dividend payout ratio (DPR) is presently 67.34%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Inter Parfums by 0.9% during the 1st quarter. BlackRock Inc. now owns 2,686,964 shares of the company’s stock worth $236,587,000 after acquiring an additional 24,932 shares in the last quarter. Vanguard Group Inc. grew its holdings in Inter Parfums by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,012,813 shares of the company’s stock worth $177,228,000 after acquiring an additional 29,386 shares in the last quarter. Royce & Associates LP grew its holdings in Inter Parfums by 5.9% during the 1st quarter. Royce & Associates LP now owns 731,334 shares of the company’s stock worth $64,394,000 after acquiring an additional 40,469 shares in the last quarter. State Street Corp grew its holdings in Inter Parfums by 4.1% during the 1st quarter. State Street Corp now owns 577,306 shares of the company’s stock worth $50,832,000 after acquiring an additional 22,972 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in Inter Parfums by 60.6% during the 1st quarter. Copeland Capital Management LLC now owns 549,608 shares of the company’s stock worth $48,393,000 after acquiring an additional 207,336 shares in the last quarter. Institutional investors own 57.42% of the company’s stock.

About Inter Parfums (Get Rating)

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. 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, Kate Spade, Lily Aldridge, Lanvin, Moncler, Montblanc, Rochas, S.T.

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