Inter Parfums (NASDAQ:IPAR) Given Buy Rating at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a research report sent to investors on Friday, Benzinga reports. DA Davidson currently has a $163.00 price target on the stock.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of Inter Parfums from a sell rating to a hold rating in a research report on Wednesday, August 7th. BWS Financial reiterated a buy rating and set a $172.00 price target on shares of Inter Parfums in a research note on Thursday, August 8th. Jefferies Financial Group raised Inter Parfums from a hold rating to a buy rating and set a $140.00 target price on the stock in a report on Friday, July 12th. Finally, Piper Sandler reiterated an overweight rating and set a $151.00 target price (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $156.50.

Inter Parfums Price Performance

NASDAQ IPAR opened at $119.13 on Friday. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 27.45 and a beta of 1.16. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27. The business’s fifty day moving average price is $126.66 and its 200-day moving average price is $125.40.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. Inter Parfums’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, equities analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

Insider Activity

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of Inter Parfums by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock worth $1,641,000 after acquiring an additional 81 shares during the last quarter. Comerica Bank boosted its holdings in shares of Inter Parfums by 0.7% during the 4th quarter. Comerica Bank now owns 11,360 shares of the company’s stock valued at $1,636,000 after purchasing an additional 83 shares during the last quarter. CWM LLC grew its position 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 purchasing an additional 88 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Inter Parfums by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company’s stock worth $390,000 after purchasing an additional 92 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Inter Parfums by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock worth $1,044,000 after buying an additional 100 shares in the last quarter. 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.