Zacks Investment Research Lowers Inter Parfums (IPAR) to Sell

Zacks Investment Research cut shares of Inter Parfums (NASDAQ:IPAR) from a hold rating to a sell rating in a research report report published on Wednesday morning.

According to Zacks, “Inter Parfums, Inc., together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T. Dupont, Repetto, Rochas, Van Cleef & Arpels, Abercrombie & Fitch, Agent Provocateur, Anna Sui, bebe, Dunhill, Hollister, French Connection, Gap, Oscar de la Renta, and Shanghai Tang brands. It markets and sells its products to department stores, perfumeries, specialty retailers, mass market retailers, supermarkets, domestic and international wholesalers, and distributors. The company was formerly known as Jean Philippe Fragrances, Inc. and later changed its name to Inter Parfums, Inc. “

A number of other equities research analysts have also recently issued reports on the company. Sidoti cut Inter Parfums from a buy rating to a neutral rating in a research note on Thursday, November 2nd. DA Davidson dropped their price objective on Inter Parfums from $49.00 to $46.00 and set a neutral rating on the stock in a research note on Wednesday, November 15th. Citigroup set a $52.00 price objective on Inter Parfums and gave the stock a buy rating in a research note on Wednesday, January 3rd. BidaskClub cut Inter Parfums from a buy rating to a hold rating in a research note on Friday, December 29th. Finally, KeyCorp set a $44.00 price objective on Inter Parfums and gave the stock a buy rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $46.00.

Inter Parfums (NASDAQ:IPAR) traded down $0.75 during midday trading on Wednesday, reaching $46.25. The company’s stock had a trading volume of 92,734 shares, compared to its average volume of 81,771. The company has a market cap of $1,442.40, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.69 and a beta of 1.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.39 and a quick ratio of 2.54. Inter Parfums has a 12-month low of $31.45 and a 12-month high of $47.65.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Wednesday, November 8th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Inter Parfums had a return on equity of 8.06% and a net margin of 7.13%. The firm had revenue of $169.50 million for the quarter, compared to analysts’ expectations of $160.52 million. During the same quarter in the previous year, the business posted $0.52 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. sell-side analysts forecast that Inter Parfums will post 1.29 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.82%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.17. Inter Parfums’s dividend payout ratio is currently 63.16%.

In related news, CFO Russell Greenberg sold 3,000 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $45.00, for a total value of $135,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Philippe Santi sold 600 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $43.86, for a total value of $26,316.00. Following the completion of the sale, the chief financial officer now owns 600 shares in the company, valued at approximately $26,316. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,000 shares of company stock worth $1,411,666. Company insiders own 45.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of IPAR. Atlanta Capital Management Co. L L C raised its stake in Inter Parfums by 14.0% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock valued at $42,825,000 after acquiring an additional 143,072 shares during the period. Renaissance Technologies LLC raised its stake in Inter Parfums by 37.1% in the 2nd quarter. Renaissance Technologies LLC now owns 343,713 shares of the company’s stock valued at $12,597,000 after acquiring an additional 93,100 shares during the period. Fort Pitt Capital Group LLC raised its stake in Inter Parfums by 31.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 386,988 shares of the company’s stock valued at $14,183,000 after acquiring an additional 92,965 shares during the period. Thrivent Financial For Lutherans raised its stake in Inter Parfums by 781.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 84,430 shares of the company’s stock valued at $3,094,000 after acquiring an additional 74,850 shares during the period. Finally, New York State Common Retirement Fund raised its stake in Inter Parfums by 65.7% in the 2nd quarter. New York State Common Retirement Fund now owns 151,446 shares of the company’s stock valued at $5,550,000 after acquiring an additional 60,064 shares during the period. Institutional investors and hedge funds own 55.39% of the company’s stock.

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Inter Parfums Company Profile

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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