Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report)'s stock price was up 6.6% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $117.26 and last traded at $117.66. Approximately 107,126 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 178,102 shares. The stock had previously closed at $110.37.
The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.19. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $339.00 million for the quarter, compared to analyst estimates of $329.21 million. During the same period in the previous year, the business posted $1.27 earnings per share. The business's revenue was up 4.6% compared to the same quarter last year.
Inter Parfums Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.20 dividend on an annualized basis and a yield of 2.69%. Inter Parfums's dividend payout ratio (DPR) is presently 62.26%.
Analyst Ratings Changes
Several research analysts have commented on IPAR shares. DA Davidson restated a "buy" rating and issued a $170.00 target price on shares of Inter Parfums in a research report on Tuesday, March 25th. BWS Financial reaffirmed a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Wednesday. Canaccord Genuity Group raised their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $138.00 price target (down from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.60.
Check Out Our Latest Research Report on IPAR
Hedge Funds Weigh In On Inter Parfums
A number of institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Inter Parfums by 251.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 699,438 shares of the company's stock worth $79,645,000 after acquiring an additional 500,378 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Inter Parfums in the 4th quarter valued at approximately $46,649,000. Raymond James Financial Inc. acquired a new stake in Inter Parfums in the 4th quarter valued at about $39,070,000. Norges Bank acquired a new position in Inter Parfums in the 4th quarter valued at $32,095,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of 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 purchasing an additional 200,079 shares in the last quarter. Hedge funds and other institutional investors own 55.57% of the company's stock.
Inter Parfums Trading Down 0.7 %
The business's fifty day moving average price is $114.37 and its 200 day moving average price is $126.96. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 25.53 and a beta of 1.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.
About Inter Parfums
(
Get Free Report)
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.
Further Reading
Before you consider Inter Parfums, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Inter Parfums wasn't on the list.
While Inter Parfums currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
