Inter Parfums’ (IPAR) “Buy” Rating Reiterated at DA Davidson

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating restated by analysts at DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $163.00 target price on the stock. DA Davidson’s price objective suggests a potential upside of 18.39% from the company’s current price.

Several other research firms also recently weighed in on IPAR. Piper Sandler reduced their target price on Inter Parfums from $158.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. BWS Financial reissued a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, November 11th. Finally, StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Inter Parfums currently has a consensus rating of “Moderate Buy” and an average price target of $157.50.

Inter Parfums Stock Performance

NASDAQ IPAR traded down $2.24 on Tuesday, reaching $137.68. 5,869 shares of the stock were exchanged, compared to its average volume of 144,375. The company’s 50-day simple moving average is $126.20 and its two-hundred day simple moving average is $123.64. Inter Parfums has a one year low of $108.39 and a one year high of $156.75. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $4.41 billion, a PE ratio of 30.03 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, topping 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 business had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. During the same quarter in the prior year, the firm posted $1.66 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Analysts expect that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Activity

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 transaction of $532,160.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 43.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IPAR. Harbor Capital Advisors Inc. increased its position in Inter Parfums by 306.7% in the second quarter. Harbor Capital Advisors Inc. now owns 5,478 shares of the company’s stock worth $636,000 after buying an additional 4,131 shares during the period. WCM Investment Management LLC raised its position in shares of Inter Parfums by 2.9% during the third quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock worth $24,835,000 after acquiring an additional 5,482 shares during the last quarter. Algert Global LLC grew its stake in Inter Parfums by 18.6% in the second quarter. Algert Global LLC now owns 70,564 shares of the company’s stock valued at $8,188,000 after acquiring an additional 11,089 shares during the period. Fifth Third Bancorp raised its holdings in Inter Parfums by 11.8% during the second quarter. Fifth Third Bancorp now owns 3,733 shares of the company’s stock worth $433,000 after acquiring an additional 393 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Inter Parfums by 19.9% during the second quarter. Raymond James & Associates now owns 126,189 shares of the company’s stock worth $14,642,000 after purchasing an additional 20,985 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

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.