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

Inter Parfums, Inc. (NASDAQ:IPAR) shares 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 changing hands. The stock had previously closed at $130.52.

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

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 43.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Inter Parfums

Large investors have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. bought a new stake in Inter Parfums during the fourth quarter valued at $27,000. Principal Securities Inc. purchased a new position in shares of Inter Parfums in the fourth quarter worth about $30,000. Signaturefd LLC increased its holdings in shares of Inter Parfums by 87.4% in the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Inter Parfums in the fourth quarter worth about $33,000. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Inter Parfums by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock worth $37,000 after buying an additional 121 shares during the period. Institutional investors own 55.57% of the company’s stock.

Inter Parfums Stock Performance

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

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $329.00 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that Inter Parfums, Inc. will post 5.16 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s payout ratio is currently 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.