Inter Parfums (IPAR) is Upgraded by B. Riley & Co. to Buy, Raises Price Target to $ 36

Inter Parfums (IPAR) was Upgraded by B. Riley & Co. to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 36 from a previous price target of $34 . Earlier the firm had a rating of “Neutral ” on the company shares. B. Riley & Co. advised their investors in a research report released on Jul 26, 2016.

Many Wall Street Analysts have commented on Inter Parfums. Inter Parfums was Upgraded by Sidoti to ” Buy” on Jun 28, 2016.

On the company’s financial health, Inter Parfums reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $0.31. The company had revenue of $111.50 million for the quarter, compared to analysts expectations of $111.50 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Inter Parfums opened for trading at $28.62 and hit $29 on the upside on Wednesday, eventually ending the session at $28.59, with a gain of 0.42% or 0.12 points. The heightened volatility saw the trading volume jump to 53,241 shares. Company has a market cap of $888 M.

In a different news, on Apr 15, 2016, Russell Greenberg (EX VP and CFO) sold 7,000 shares at $31.21 per share price. According to the SEC, on Apr 14, 2016, Philippe Santi (CFO Interparfums SA) sold 3,000 shares at $30.68 per share price. On Dec 9, 2015, Henry B. Clarke (President Inter Parfums USA) sold 7,500 shares at $26.27 per share price, according to the Form-4 filing with the securities and exchange commission.

Inter Parfums Inc. operates in the fragrance business and manufacture markets and distributes an array of fragrances and fragrance related products. The Company operates in two segments: European-based operations and United States-based operations. The Company produces and distributes prestige fragrance products primarily under license agreements with brand owners and prestige product sales through its European operations. It has a portfolio of prestige brands which include Balmain Boucheron Jimmy Choo Karl Lagerfeld Lanvin Montblanc Paul Smith S.T. Dupont Repetto and Van Cleef & Arpels whose products are distributed in over 100 countries around the world. The Company’s Prestige brand and specialty retail fragrance and fragrance related products are marketed through its United States operations. Its brands include Abercrombie & Fitch Agent Provocateur Anna Sui Banana Republic bebe Dunhill Gap Hollister Oscar de la Renta and Shanghai Tang brands.

Inter Parfums

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