Piper Sandler Lowers Inter Parfums (NASDAQ:IPAR) Price Target to $155.00

Inter Parfums (NASDAQ:IPAR) had its price objective decreased by equities researchers at Piper Sandler from $158.00 to $155.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 18.57% from the company’s previous close.

A number of other research analysts have also recently commented on IPAR. DA Davidson reissued a “buy” rating and issued a $163.00 target price on shares of Inter Parfums in a research note on Tuesday. BWS Financial reissued a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a report on Monday. Finally, StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have given 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 target price of $157.50.

Inter Parfums Price Performance

Shares of NASDAQ IPAR opened at $130.72 on Wednesday. The stock’s 50-day simple moving average is $122.42 and its two-hundred day simple moving average is $122.47. Inter Parfums has a twelve month low of $108.39 and a twelve month high of $156.75. The firm has a market capitalization of $4.19 billion, a P/E ratio of 28.05 and a beta of 1.16. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

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 analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $425.00 million for the quarter, compared to the consensus estimate of $425.00 million. During the same period last year, the firm posted $1.66 earnings per share. Inter Parfums’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts anticipate that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this link. Insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. raised its position in Inter Parfums by 83.4% during the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after purchasing an additional 296 shares during the last quarter. Mendota Financial Group LLC purchased a new stake in Inter Parfums in the 2nd quarter worth approximately $89,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Inter Parfums in the 3rd quarter worth approximately $104,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Inter Parfums during the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

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.