Inter Parfums, Inc. (IPAR) Cut to “Neutral” at Sidoti

Inter Parfums, Inc. (NASDAQ:IPAR) was downgraded by investment analysts at Sidoti from a “buy” rating to a “neutral” rating in a report released on Thursday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Thursday, October 26th. DA Davidson lowered shares of Inter Parfums from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Thursday, October 26th. KeyCorp set a $44.00 price target on shares of Inter Parfums and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub raised shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Inter Parfums currently has a consensus rating of “Buy” and a consensus price target of $44.50.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $129.10 million during the quarter, compared to analyst estimates of $122.57 million. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. Inter Parfums’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share.

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In other news, CFO Russell Greenberg sold 2,500 shares of Inter Parfums stock in a transaction on Monday, August 14th. The shares were sold at an average price of $39.10, for a total transaction of $97,750.00. Following the transaction, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at $215,050. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Torres Robert Bensoussan sold 6,000 shares of Inter Parfums stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $42.09, for a total transaction of $252,540.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,750 shares of company stock worth $480,483. Insiders own 45.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Inter Parfums in the 1st quarter valued at $107,000. Acrospire Investment Management LLC lifted its position in Inter Parfums by 68.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock valued at $116,000 after acquiring an additional 1,296 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Inter Parfums by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock valued at $123,000 after acquiring an additional 1,490 shares in the last quarter. Victory Capital Management Inc. lifted its position in Inter Parfums by 39.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock valued at $127,000 after acquiring an additional 985 shares in the last quarter. Finally, Huntington National Bank lifted its position in Inter Parfums by 17.6% in the 2nd quarter. Huntington National Bank now owns 3,569 shares of the company’s stock valued at $131,000 after acquiring an additional 535 shares in the last quarter. 55.82% of the stock is currently owned by institutional investors.

About Inter Parfums

Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.

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