DA Davidson Reaffirms Buy Rating for Inter Parfums (NASDAQ:IPAR)

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They currently have a $163.00 target price on the stock. DA Davidson’s target price would suggest a potential upside of 12.82% from the company’s current price.

A number of other analysts have also recently commented on IPAR. BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Monday, November 11th. Piper Sandler upped their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group started coverage on Inter Parfums in a research note on Thursday, January 16th. They set a “buy” rating and a $158.00 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.40.

Inter Parfums Stock Up 0.8 %

Shares of IPAR stock opened at $144.48 on Thursday. The firm’s fifty day moving average price is $133.60 and its two-hundred day moving average price is $128.03. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $156.75. The firm has a market capitalization of $4.63 billion, a P/E ratio of 31.00 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data 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. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $425.00 million during the quarter, compared to analysts’ expectations of $425.00 million. During the same quarter last year, the company earned $1.66 EPS. Inter Parfums’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Transactions at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $133.04, for a total value of $532,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in Inter Parfums by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock worth $85,384,000 after purchasing an additional 4,862 shares during the period. Hsbc Holdings PLC increased its stake in Inter Parfums by 12.9% in the second quarter. Hsbc Holdings PLC now owns 2,322 shares of the company’s stock valued at $267,000 after acquiring an additional 266 shares during the last quarter. Intech Investment Management LLC acquired a new position in Inter Parfums during the second quarter valued at approximately $385,000. Sei Investments Co. lifted its stake in Inter Parfums by 4.8% during the second quarter. Sei Investments Co. now owns 55,719 shares of the company’s stock worth $6,465,000 after purchasing an additional 2,549 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Inter Parfums by 7.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 39,459 shares of the company’s stock valued at $4,578,000 after purchasing an additional 2,749 shares in the last quarter. 55.57% of the stock is currently 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.