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

DA Davidson reiterated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a research note issued to investors on Tuesday morning,Benzinga reports. DA Davidson currently has a $170.00 target price on the stock.

A number of other equities analysts have also commented on the company. Piper Sandler lifted their price objective on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. BWS Financial restated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research report on Monday, March 17th. Finally, Canaccord Genuity Group increased their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.80.

Inter Parfums Stock Performance

NASDAQ:IPAR opened at $118.56 on Tuesday. The stock’s 50-day moving average is $134.72 and its 200-day moving average is $129.91. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $148.15. 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 stock has a market cap of $3.81 billion, a P/E ratio of 25.44 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The business had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Equities research analysts anticipate that Inter Parfums will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is presently 62.87%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. acquired a new position in shares of Inter Parfums during the fourth quarter valued at about $46,649,000. Raymond James Financial Inc. acquired a new position in Inter Parfums during the 4th quarter worth approximately $39,070,000. Norges Bank acquired a new position in Inter Parfums during the 4th quarter worth approximately $32,095,000. Victory Capital Management Inc. boosted its holdings in Inter Parfums by 55.0% in the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock worth $74,125,000 after acquiring an additional 200,079 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in Inter Parfums by 10.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company’s stock valued at $147,913,000 after acquiring an additional 108,321 shares during the period. 55.57% of the stock is owned by 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.