Inter Parfums (NASDAQ:IPAR) Earns “Buy” Rating from DA Davidson

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reaffirmed by analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $163.00 target price on the stock. DA Davidson’s price target indicates a potential upside of 22.18% from the company’s previous close.

IPAR has been the subject of several other reports. BWS Financial reiterated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Monday, November 11th. Piper Sandler upped their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $159.75.

Inter Parfums Stock Down 2.0 %

Inter Parfums stock opened at $133.41 on Wednesday. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 28.63 and a beta of 1.20. The firm has a fifty day moving average price of $128.54 and a two-hundred day moving average price of $124.88. Inter Parfums has a fifty-two week low of $108.39 and a fifty-two week high of $156.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

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

Insider Buying and Selling

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

Institutional Trading of Inter Parfums

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in shares of Inter Parfums by 5,393.6% in the 3rd quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock valued at $47,075,000 after purchasing an additional 356,949 shares during the period. American Century Companies Inc. grew its holdings in shares of Inter Parfums by 50.1% during the second quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock worth $36,846,000 after buying an additional 106,044 shares in the last quarter. Wellington Management Group LLP raised its position in Inter Parfums by 44.2% in the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock valued at $41,934,000 after buying an additional 99,316 shares during the last quarter. F M Investments LLC bought a new stake in Inter Parfums in the 2nd quarter valued at approximately $9,328,000. Finally, Barclays PLC boosted its position in Inter Parfums by 293.0% during 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 during the last quarter. Institutional investors and hedge funds 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.