Inter Parfums (NASDAQ:IPAR) Given “Buy” Rating at BWS Financial

BWS Financial restated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a report issued on Wednesday, Benzinga reports. The firm currently has a $172.00 price target on the stock.

Separately, Piper Sandler upped their price objective on Inter Parfums from $175.00 to $176.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th.

Inter Parfums Price Performance

Shares of NASDAQ IPAR opened at $123.64 on Wednesday. The stock’s 50-day moving average is $140.07 and its two-hundred day moving average is $135.65. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 26.03 and a beta of 1.13. Inter Parfums has a 1-year low of $120.71 and a 1-year high of $161.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $328.74 million for the quarter, compared to analyst estimates of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 earnings per share. Analysts forecast that Inter Parfums will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.43%. Inter Parfums’s dividend payout ratio is 63.16%.

Insider Activity at Inter Parfums

In related news, Director Gilbert Harrison sold 250 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $150,420. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 43.90% of the company’s stock.

Institutional Trading of Inter Parfums

Large investors have recently made changes to their positions in the company. Cerity Partners LLC acquired a new stake in shares of Inter Parfums in the 4th quarter valued at about $6,624,000. WCM Investment Management LLC boosted its position in shares of Inter Parfums by 9.3% in the 4th quarter. WCM Investment Management LLC now owns 200,336 shares of the company’s stock valued at $29,592,000 after purchasing an additional 17,079 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Inter Parfums in the 3rd quarter valued at about $2,199,000. Invesco Ltd. lifted its position in Inter Parfums by 94.4% during the 3rd quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock worth $37,136,000 after acquiring an additional 134,243 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in Inter Parfums by 0.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock worth $1,721,000 after acquiring an additional 100 shares during the period. 55.57% of the stock is owned by institutional investors and hedge funds.

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.