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

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

Several other analysts have also weighed in on the stock. Piper Sandler lifted their price objective 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 reissued a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Inter Parfums currently has an average rating of “Moderate Buy” and a consensus price target of $159.75.

Inter Parfums Stock Down 2.0 %

Shares of NASDAQ:IPAR opened at $127.77 on Wednesday. The firm has a market cap of $4.09 billion, a P/E ratio of 27.42 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 business has a fifty day simple moving average of $129.13 and a 200 day simple moving average of $125.08. 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 released 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. The business had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 EPS. Analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. 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 Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its stake in Inter Parfums by 44.4% in the 2nd 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. boosted its position in shares of Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after acquiring an additional 296 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Inter Parfums during the third quarter valued at approximately $104,000. Crossmark Global Holdings Inc. bought a new stake in Inter Parfums during the 3rd quarter worth approximately $209,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in Inter Parfums in the 3rd quarter worth approximately $233,000. 55.57% of the stock is owned by institutional investors.

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.