Inter Parfums (NASDAQ:IPAR) Reaches New 52-Week Low Following Analyst Downgrade

Shares of Inter Parfums, Inc. (NASDAQ:IPAR) hit 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. The stock had previously closed at $130.52.

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

Insiders Place Their Bets

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the company’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 transaction, the director now directly owns 1,000 shares in the company, valued at approximately $150,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inter Parfums in the fourth quarter worth $27,000. Principal Securities Inc. purchased a new position in shares of Inter Parfums during the fourth quarter worth $30,000. Signaturefd LLC raised its holdings 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 purchasing an additional 104 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Inter Parfums during the fourth quarter worth $33,000. Finally, Hexagon Capital Partners LLC raised its holdings 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 purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Trading Down 7.7 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The company’s fifty day moving average is $137.92 and its 200-day moving average is $135.52. The stock has a market cap of $3.86 billion, a PE ratio of 25.60 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $328.74 million during 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 last year, the business earned $0.71 EPS. On average, analysts predict that Inter Parfums, Inc. will post 5.16 earnings per share for the current fiscal 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 paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.49%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. Inter Parfums’s payout ratio is 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.