Inter Parfums (NASDAQ:IPAR) Stock Price Expected to Rise, Piper Sandler Analyst Says

Inter Parfums (NASDAQ:IPAR) had its price objective increased by Piper Sandler from $155.00 to $164.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

IPAR has been the subject of a number of other reports. BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, November 11th. DA Davidson reiterated a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a report on Tuesday. Finally, StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

Inter Parfums Price Performance

Shares of NASDAQ IPAR opened at $139.49 on Wednesday. The stock’s 50-day simple moving average is $126.81 and its two-hundred day simple moving average is $123.84. Inter Parfums has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $4.47 billion, a P/E ratio of 29.93 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm had revenue of $425.00 million during the quarter, compared to analysts’ expectations of $425.00 million. During the same period in the prior year, the business earned $1.66 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Activity at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inter Parfums

Several institutional investors and hedge funds have recently bought and sold shares of the business. Synovus Financial Corp lifted its holdings in Inter Parfums by 12.3% in the 3rd quarter. Synovus Financial Corp now owns 4,546 shares of the company’s stock worth $589,000 after buying an additional 499 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Inter Parfums in the 3rd quarter worth approximately $259,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Inter Parfums by 50.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock worth $2,982,000 after acquiring an additional 7,771 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Inter Parfums by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after acquiring an additional 5,056 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Inter Parfums by 293.0% in the 3rd quarter. Barclays PLC now owns 34,689 shares of the company’s stock worth $4,492,000 after acquiring an additional 25,862 shares in the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

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.