Inter Parfums (NASDAQ:IPAR - Free Report) had its target price boosted by Canaccord Genuity Group from $158.00 to $168.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
IPAR has been the subject of several other reports. Piper Sandler increased their price target on Inter Parfums from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. BWS Financial reissued a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, January 27th. Finally, DA Davidson boosted their target price on shares of Inter Parfums from $163.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.80.
Read Our Latest Report on Inter Parfums
Inter Parfums Stock Down 2.8 %
Shares of NASDAQ IPAR traded down $3.87 during midday trading on Thursday, reaching $135.05. The company's stock had a trading volume of 221,613 shares, compared to its average volume of 142,033. Inter Parfums has a fifty-two week low of $108.39 and a fifty-two week high of $148.15. The stock has a 50 day simple moving average of $135.89 and a 200-day simple moving average of $129.73. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 28.98 and a beta of 1.20. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14.
Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. Equities research analysts predict that Inter Parfums will post 5.14 earnings per share for the current year.
Inter Parfums Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 14th. Inter Parfums's dividend payout ratio (DPR) is presently 62.87%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Inter Parfums by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company's stock worth $269,677,000 after purchasing an additional 20,721 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Inter Parfums by 10.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company's stock worth $147,913,000 after buying an additional 108,321 shares during the last quarter. State Street Corp boosted its holdings in shares of Inter Parfums by 0.3% during the 3rd quarter. State Street Corp now owns 676,253 shares of the company's stock worth $87,561,000 after buying an additional 2,255 shares during the period. Royce & Associates LP grew its stake in Inter Parfums by 0.7% in the 3rd quarter. Royce & Associates LP now owns 595,175 shares of the company's stock valued at $77,063,000 after buying an additional 4,345 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Inter Parfums by 55.0% in the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company's stock valued at $74,125,000 after acquiring an additional 200,079 shares during the period. 55.57% of the stock is owned by institutional investors and hedge funds.
About Inter Parfums
(
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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.
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