DA Davidson Reaffirms Buy Rating for Inter Parfums (NASDAQ:IPAR)

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a note issued to investors on Friday, Benzinga reports. They presently have a $163.00 target price on the stock. DA Davidson’s price target suggests a potential upside of 38.68% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $151.00 price objective (up from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. BWS Financial restated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Thursday, August 8th. Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Friday, July 12th. Finally, StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $156.50.

Inter Parfums Price Performance

IPAR opened at $117.54 on Friday. Inter Parfums has a 12-month low of $108.39 and a 12-month high of $156.75. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $126.59 and its 200-day simple moving average is $125.92. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 27.08 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The business had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. During the same quarter in the prior year, the company earned $1.09 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inter Parfums

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in shares of Inter Parfums by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock worth $1,641,000 after purchasing an additional 81 shares during the last quarter. Comerica Bank raised its stake in shares of Inter Parfums by 0.7% in the fourth quarter. Comerica Bank now owns 11,360 shares of the company’s stock worth $1,636,000 after purchasing an additional 83 shares during the last quarter. CWM LLC raised its stake in shares of Inter Parfums by 44.4% in the second quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after purchasing an additional 88 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Inter Parfums by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company’s stock worth $390,000 after purchasing an additional 92 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Inter Parfums by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock worth $1,044,000 after purchasing an additional 100 shares during the last quarter. 55.57% of the stock is currently owned by hedge funds and other 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.