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

DA Davidson reissued their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $163.00 target price on the stock.

Several other research firms have also recently commented on IPAR. Piper Sandler increased their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

Inter Parfums Stock Performance

Shares of IPAR traded down $0.34 on Wednesday, reaching $128.59. 19,348 shares of the stock traded hands, compared to its average volume of 144,014. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 27.59 and a beta of 1.20. Inter Parfums has a 12 month low of $108.39 and a 12 month high of $156.75. The stock’s 50-day moving average price is $128.90 and its 200-day moving average price is $125.00. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Inter Parfums’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 EPS. Equities analysts forecast that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Activity at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. 43.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inter Parfums

A number of institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC increased its position in Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after buying an additional 88 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Inter Parfums by 83.4% during the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after acquiring an additional 296 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in shares of Inter Parfums during the 3rd quarter worth approximately $104,000. Crossmark Global Holdings Inc. bought a new stake in Inter Parfums in the 3rd quarter valued at $209,000. Finally, Choreo LLC acquired a new stake in Inter Parfums during the 2nd quarter valued at $213,000. 55.57% of the stock is owned by 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.