Piper Sandler Issues Pessimistic Forecast for Inter Parfums (NASDAQ:IPAR) Stock Price

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

IPAR has been the subject of several other reports. DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research note on Tuesday. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Inter Parfums currently has an average rating of “Moderate Buy” and an average target price of $157.50.

Inter Parfums Trading Up 1.7 %

Inter Parfums stock opened at $128.20 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 27.51 and a beta of 1.16. Inter Parfums has a 12 month low of $108.39 and a 12 month high of $156.75. The business has a 50 day moving average price of $122.42 and a two-hundred day moving average price of $122.47.

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

Inter Parfums Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.34%. Inter Parfums’s payout ratio is currently 64.38%.

Insider Activity at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 43.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inter Parfums

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its stake in Inter Parfums by 5,393.6% during the 3rd quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock valued at $47,075,000 after acquiring an additional 356,949 shares during the period. American Century Companies Inc. grew its position in shares of Inter Parfums by 50.1% during the second quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock valued at $36,846,000 after purchasing an additional 106,044 shares in the last quarter. F M Investments LLC purchased a new position in shares of Inter Parfums in the second quarter valued at $9,328,000. Burney Co. bought a new stake in shares of Inter Parfums in the 1st quarter valued at approximately $5,327,000. Finally, Vanguard Group Inc. lifted its stake in Inter Parfums by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock worth $288,718,000 after purchasing an additional 30,316 shares during the last quarter. 55.57% of the stock is currently owned by hedge funds and other 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 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.