Inter Parfums (NASDAQ:IPAR) Sets New 52-Week Low – Here’s What Happened

Inter Parfums, Inc. (NASDAQ:IPAR)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $102.49 and last traded at $105.15, with a volume of 41419 shares changing hands. The stock had previously closed at $114.48.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IPAR shares. Canaccord Genuity Group lifted their price target on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, March 17th. Finally, DA Davidson reissued a “buy” rating and issued a $170.00 price target on shares of Inter Parfums in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.80.

Inter Parfums Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The company has a 50 day simple moving average of $130.32 and a 200-day simple moving average of $129.57. The firm has a market cap of $3.34 billion, a PE ratio of 22.34 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. As a group, equities research analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 3.07%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is currently 62.87%.

Institutional Investors Weigh In On Inter Parfums

Several institutional investors have recently bought and sold shares of IPAR. Charles Schwab Investment Management Inc. boosted its stake in shares of Inter Parfums by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 190,331 shares of the company’s stock valued at $24,644,000 after purchasing an additional 1,129 shares during the period. FMR LLC boosted its position in Inter Parfums by 13.3% during the 3rd quarter. FMR LLC now owns 3,365 shares of the company’s stock valued at $436,000 after buying an additional 395 shares during the period. Edgestream Partners L.P. bought a new stake in Inter Parfums in the 3rd quarter worth $660,000. Benjamin Edwards Inc. increased its position in shares of Inter Parfums by 20.6% in the third quarter. Benjamin Edwards Inc. now owns 3,166 shares of the company’s stock valued at $410,000 after acquiring an additional 540 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Inter Parfums during the third quarter valued at about $732,000. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

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.