Canaccord Genuity Group Issues Positive Forecast for Interparfums (NASDAQ:IPAR) Stock Price

Interparfums (NASDAQ:IPAR) had its price objective raised by investment analysts at Canaccord Genuity Group from $151.00 to $154.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target would suggest a potential upside of 13.52% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Interparfums in a research report on Friday, October 2nd. Berenberg Bank lowered shares of Interparfums from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a report on Friday, August 14th. Zacks Research upgraded shares of Interparfums from a “strong sell” rating to a “hold” rating in a research report on Monday, October 26th. The Goldman Sachs Group downgraded shares of Interparfums from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $110.00 to $129.00 in a research note on Monday, August 10th. Finally, BWS Financial lowered shares of Interparfums from a “neutral” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $123.71.

Interparfums Trading Up 0.3%

Interparfums stock traded up $0.38 during trading on Friday, reaching $135.66. 129,441 shares of the company were exchanged, compared to its average volume of 258,712. Interparfums has a 52-week low of $77.21 and a 52-week high of $136.00. The company has a market capitalization of $4.34 billion, a P/E ratio of 25.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.31 and a quick ratio of 2.00. The stock’s 50 day simple moving average is $115.09 and its two-hundred day simple moving average is $105.20.

Interparfums (NASDAQ:IPAR) last released its quarterly earnings data on Wednesday, November 4th. The company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.32. The company had revenue of $429.51 million for the quarter, compared to analyst estimates of $430.00 million. Interparfums had a return on equity of 15.44% and a net margin of 11.33%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, equities research analysts expect that Interparfums will post 4.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Interparfums

In other news, Director Veronique Gabai-Pinsky sold 900 shares of Interparfums stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $116.86, for a total value of $105,174.00. Following the completion of the sale, the director directly owned 900 shares of the company’s stock, valued at approximately $105,174. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Interparfums

A number of hedge funds and other institutional investors have recently bought and sold shares of IPAR. BlackRock Inc. acquired a new position in Interparfums in the 2nd quarter valued at about $326,252,000. Bank of New York Mellon Corp purchased a new stake in Interparfums during the 2nd quarter worth approximately $35,603,000. Bank of America Corp DE acquired a new stake in shares of Interparfums in the second quarter valued at $31,320,000. First Trust Advisors LP grew its position in shares of Interparfums by 19.3% during the first quarter. First Trust Advisors LP now owns 879,005 shares of the company’s stock worth $79,849,000 after buying an additional 142,223 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of Interparfums in the 2nd quarter valued at approximately $13,379,000. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Interparfums Company Profile

Interparfums, Inc (NASDAQ: IPAR) develops, manufactures and distributes prestige fragrances and related beauty products. The company operates primarily through licensing agreements with fashion, luxury and lifestyle brands, creating perfumes, colognes, body products and other fragrance-related offerings for men and women.

Its portfolio has included internationally recognized names such as Montblanc, Jimmy Choo, Coach, Kate Spade New York, Rochas, Boucheron, Van Cleef & Arpels, Oscar de la Renta and Karl Lagerfeld, although brand relationships and licensing arrangements may change over time.