Inter Parfums (NASDAQ:IPAR) Price Target Raised to $168.00

Inter Parfums (NASDAQ:IPAR) had its price objective increased by Canaccord Genuity Group from $158.00 to $168.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on IPAR. DA Davidson raised their price objective on Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday, January 27th. Finally, Piper Sandler raised their price objective on 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 five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Inter Parfums currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Stock Performance

NASDAQ IPAR opened at $138.92 on Thursday. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $152.33. The company has a market capitalization of $4.45 billion, a P/E ratio of 29.81 and a beta of 1.20. The business has a 50 day moving average price of $135.89 and a 200 day moving average price of $129.68. 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 released its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $361.50 million for the quarter, compared to analysts’ expectations of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Sell-side analysts expect that Inter Parfums will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.80 dividend. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, March 14th. Inter Parfums’s payout ratio is currently 58.94%.

Institutional Trading of Inter Parfums

Several hedge funds and other institutional investors have recently bought and sold shares of the company. WCM Investment Management LLC boosted its stake in Inter Parfums by 2.9% in the third quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock valued at $24,835,000 after acquiring an additional 5,482 shares during the period. Geode Capital Management LLC boosted its position in shares of Inter Parfums by 1.2% during the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after buying an additional 5,056 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in Inter Parfums by 50.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock worth $2,982,000 after purchasing an additional 7,771 shares during the period. US Bancorp DE lifted its position in Inter Parfums by 12.2% in the third quarter. US Bancorp DE now owns 6,872 shares of the company’s stock worth $890,000 after purchasing an additional 746 shares during the period. Finally, Black Swift Group LLC acquired a new stake in Inter Parfums in the third quarter worth approximately $647,000. 55.57% of the stock is owned by 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.