Inter Parfums (NASDAQ:IPAR) Rating Reiterated by DA Davidson

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a report issued on Tuesday, Benzinga reports. They presently have a $163.00 price objective on the stock. DA Davidson’s target price suggests a potential upside of 34.43% from the company’s current price. DA Davidson also issued estimates for Inter Parfums’ Q3 2024 earnings at $1.87 EPS.

A number of other brokerages have also weighed in on IPAR. BWS Financial restated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Thursday, August 8th. Piper Sandler reaffirmed 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. Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Friday, July 12th. Finally, StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Inter Parfums currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Inter Parfums Stock Up 0.8 %

IPAR opened at $121.25 on Tuesday. The business’s fifty day simple moving average is $122.63 and its 200 day simple moving average is $122.67. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $156.75. The company has a quick ratio of 1.27, a current ratio of 2.58 and a debt-to-equity ratio of 0.12. The stock has a market cap of $3.88 billion, a PE ratio of 27.94 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $342.00 million for the quarter, compared to analyst estimates of $342.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. As a group, research analysts expect that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Insider Transactions at Inter Parfums

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 43.90% of the stock is currently owned by company insiders.

Institutional Trading of Inter Parfums

Several large investors have recently added to or reduced their stakes in the stock. CWM LLC raised its holdings 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 in the last quarter. Commonwealth Equity Services LLC raised its stake in 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 buying an additional 92 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in 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 buying an additional 100 shares during the period. Arizona State Retirement System boosted its position in Inter Parfums by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 5,378 shares of the company’s stock valued at $624,000 after acquiring an additional 105 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Inter Parfums by 3.9% during the 3rd quarter. Inspire Investing LLC now owns 3,208 shares of the company’s stock worth $415,000 after acquiring an additional 120 shares during the period. Institutional investors own 55.57% of the company’s stock.

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.