Piper Sandler Cuts Inter Parfums (NASDAQ:IPAR) Price Target to $155.00

Inter Parfums (NASDAQ:IPAR) had its price target lowered by equities research analysts at Piper Sandler from $158.00 to $155.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 19.32% from the company’s current price.

Other research analysts have also issued reports about the company. BWS Financial reissued a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Inter Parfums has a consensus rating of “Moderate Buy” and an average target price of $157.50.

Inter Parfums Stock Performance

Shares of IPAR stock traded up $3.90 during mid-day trading on Wednesday, reaching $129.90. The stock had a trading volume of 61,329 shares, compared to its average volume of 145,117. The business’s fifty day moving average is $122.33 and its 200-day moving average is $122.43. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 27.89 and a beta of 1.16. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 earnings per share. On average, research analysts forecast that Inter Parfums will post 5.15 earnings per share for the current year.

Insider Buying and Selling

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 43.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. raised its stake in Inter Parfums by 83.4% during the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after purchasing an additional 296 shares during the period. Mendota Financial Group LLC acquired a new stake in Inter Parfums during the 2nd quarter valued at $89,000. Crossmark Global Holdings Inc. acquired a new position in shares of Inter Parfums in the third quarter worth $209,000. Finally, Choreo LLC acquired a new position in shares of Inter Parfums in the second quarter worth $213,000. 55.57% of the stock is owned by hedge funds and other 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. 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.