Interparfums (NASDAQ:IPAR) Posts Earnings Results, Beats Estimates By $0.32 EPS

Interparfums (NASDAQ:IPAR) posted its quarterly earnings results on Wednesday. The company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.32, FiscalAI reports. Interparfums had a return on equity of 15.21% and a net margin of 11.17%. The business had revenue of $429.51 million for the quarter, compared to analysts’ expectations of $430.00 million. During the same quarter in the prior year, the business earned $2.05 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis.

Interparfums Stock Performance

NASDAQ:IPAR traded up $6.48 during mid-day trading on Wednesday, hitting $123.57. 235,407 shares of the stock were exchanged, compared to its average volume of 204,510. The firm’s 50-day simple moving average is $114.72 and its 200 day simple moving average is $104.97. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 22.39 and a beta of 1.08. Interparfums has a fifty-two week low of $77.21 and a fifty-two week high of $129.29. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.00 and a current ratio of 3.31.

Analyst Upgrades and Downgrades

IPAR has been the subject of a number of research analyst reports. TD Cowen cut shares of Interparfums from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $110.00 to $120.00 in a research report on Monday, August 10th. BWS Financial lowered shares of Interparfums from a “neutral” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Monday, August 17th. Jefferies Financial Group raised their target price on shares of Interparfums from $115.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group downgraded shares of Interparfums from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $110.00 to $129.00 in a report on Monday, August 10th. Finally, Berenberg Bank lowered shares of Interparfums from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $123.29.

Insider Buying and Selling

In other Interparfums news, Director Veronique Gabai-Pinsky sold 900 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $116.86, for a total value of $105,174.00. Following the transaction, the director directly owned 900 shares of the company’s stock, valued at $105,174. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 43.60% of the stock is currently owned by corporate insiders.

About Interparfums

Interparfums, Inc (NASDAQ: IPAR) develops, manufactures and distributes prestige fragrances and related beauty products. The company operates primarily through licensing agreements with fashion, luxury and lifestyle brands, creating perfumes, colognes, body products and other fragrance-related offerings for men and women.

Its portfolio has included internationally recognized names such as Montblanc, Jimmy Choo, Coach, Kate Spade New York, Rochas, Boucheron, Van Cleef & Arpels, Oscar de la Renta and Karl Lagerfeld, although brand relationships and licensing arrangements may change over time.