Piper Sandler Trims Inter Parfums (NASDAQ:IPAR) Target Price to $172.00

Inter Parfums (NASDAQ:IPAR) had its price objective lowered by Piper Sandler from $176.00 to $172.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

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

Inter Parfums Trading Up 1.3 %

Shares of IPAR stock opened at $119.56 on Thursday. The firm has a market cap of $3.83 billion, a P/E ratio of 25.17 and a beta of 1.13. Inter Parfums has a 1-year low of $116.75 and a 1-year high of $158.13. 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 firm’s 50-day simple moving average is $136.61 and its 200-day simple moving average is $135.37.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The business had revenue of $328.74 million during the quarter, compared to analysts’ expectations of $329.00 million. During the same quarter in the previous year, the business posted $0.71 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Inter Parfums will post 5.15 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.75 dividend. This is an increase 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 yield of 2.51%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the stock in a transaction that occurred on 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 sale, the director now owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 43.90% of the stock is owned by corporate insiders.

Institutional Trading of Inter Parfums

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Inter Parfums by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock worth $1,641,000 after buying an additional 81 shares in the last quarter. Comerica Bank grew its position in shares of Inter Parfums by 0.7% during the fourth quarter. Comerica Bank now owns 11,360 shares of the company’s stock worth $1,636,000 after buying an additional 83 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Inter Parfums by 0.8% during the third quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock worth $1,721,000 after buying an additional 100 shares in the last quarter. Signaturefd LLC grew its position 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 in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Inter Parfums by 4.9% during the fourth quarter. Fifth Third Bancorp now owns 2,567 shares of the company’s stock worth $370,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

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.