Inter Parfums (NASDAQ:IPAR – Get Rating) updated its FY22 earnings guidance on Monday. The company provided earnings per share guidance of $3.25 for the period, compared to the consensus earnings per share estimate of $3.25. The company issued revenue guidance of $1.00 billion, compared to the consensus revenue estimate of $1.01 billion.
Analysts Set New Price Targets
A number of equities analysts have issued reports on IPAR shares. Piper Sandler started coverage on Inter Parfums in a research report on Friday, September 9th. They issued an overweight rating and a $102.00 target price on the stock. TheStreet raised Inter Parfums from a c+ rating to a b- rating in a research report on Monday, August 15th. StockNews.com started coverage on Inter Parfums in a research report on Wednesday, October 12th. They issued a hold rating on the stock. Finally, DA Davidson upped their target price on Inter Parfums from $87.00 to $94.00 and gave the company a buy rating in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $105.00.
Inter Parfums Price Performance
IPAR stock traded up $0.20 during trading hours on Monday, hitting $74.95. 70,790 shares of the stock traded hands, compared to its average volume of 94,885. The stock has a 50-day simple moving average of $78.82 and a 200 day simple moving average of $77.41. Inter Parfums has a one year low of $64.52 and a one year high of $108.35. The company has a market cap of $2.39 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.53 and a beta of 0.98. The company has a current ratio of 2.89, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.
Inter Parfums (NASDAQ:IPAR – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). Inter Parfums had a net margin of 10.32% and a return on equity of 13.43%. The company had revenue of $244.70 million during the quarter, compared to analyst estimates of $215.78 million. During the same quarter last year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities analysts forecast that Inter Parfums will post 3.26 earnings per share for the current year.
Inter Parfums Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.67%. The ex-dividend date was Wednesday, September 14th. Inter Parfums’s dividend payout ratio is currently 64.10%.
Insider Buying and Selling
In other news, Director Veronique Gabai-Pinsky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $82.42, for a total transaction of $164,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Veronique Gabai-Pinsky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $82.42, for a total transaction of $164,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Russell Greenberg sold 2,489 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $78.51, for a total value of $195,411.39. Following the sale, the chief financial officer now directly owns 7,500 shares of the company’s stock, valued at $588,825. The disclosure for this sale can be found here. Company insiders own 44.20% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in Inter Parfums by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 53,364 shares of the company’s stock valued at $3,899,000 after buying an additional 310 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Inter Parfums during the 2nd quarter worth approximately $205,000. Goldman Sachs Group Inc. grew its holdings in shares of Inter Parfums by 43.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 41,726 shares of the company’s stock worth $3,048,000 after purchasing an additional 12,703 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Inter Parfums by 7.8% during the 2nd quarter. Captrust Financial Advisors now owns 3,557 shares of the company’s stock worth $260,000 after purchasing an additional 258 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Inter Parfums during the 2nd quarter worth approximately $281,000. 55.58% of the stock is owned by institutional investors.
Inter Parfums Company Profile
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. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lily Aldridge, Lanvin, Moncler, Montblanc, Rochas, S.T.