BWS Financial Reaffirms Buy Rating for Inter Parfums (NASDAQ:IPAR)

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reissued by equities research analysts at BWS Financial in a report released on Monday,Benzinga reports. They presently have a $172.00 target price on the stock. BWS Financial’s price target points to a potential upside of 19.58% from the company’s previous close.

Other analysts have also issued reports about the company. Canaccord Genuity Group assumed coverage on Inter Parfums in a research note on Thursday, January 16th. They issued a “buy” rating and a $158.00 price target on the stock. Piper Sandler lifted their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, DA Davidson reaffirmed a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Inter Parfums has a consensus rating of “Moderate Buy” and an average target price of $159.40.

Inter Parfums Price Performance

Shares of NASDAQ IPAR opened at $143.84 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. The firm has a market cap of $4.61 billion, a PE ratio of 30.74 and a beta of 1.20. Inter Parfums has a one year low of $108.39 and a one year high of $156.75. The firm has a fifty day moving average of $134.15 and a 200 day moving average of $128.48.

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

Insiders Place Their Bets

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

A number of hedge funds have recently modified their holdings of IPAR. WCM Investment Management LLC lifted its stake in Inter Parfums by 2.9% during the third quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock worth $24,835,000 after purchasing an additional 5,482 shares in the last quarter. Geode Capital Management LLC lifted its stake in Inter Parfums by 1.2% during 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. Teachers Retirement System of The State of Kentucky boosted its holdings in Inter Parfums by 50.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock valued at $2,982,000 after acquiring an additional 7,771 shares during the period. US Bancorp DE boosted its holdings in Inter Parfums by 12.2% during the 3rd quarter. US Bancorp DE now owns 6,872 shares of the company’s stock valued at $890,000 after acquiring an additional 746 shares during the period. Finally, Annex Advisory Services LLC grew its position in Inter Parfums by 32.4% in the 3rd quarter. Annex Advisory Services LLC now owns 86,736 shares of the company’s stock valued at $11,231,000 after acquiring an additional 21,211 shares in the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

About Inter Parfums

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.