Inter Parfums (NASDAQ:IPAR) Coverage Initiated at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group initiated coverage on shares of Inter Parfums (NASDAQ:IPAR) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $158.00 price target on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 18.86% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. BWS Financial restated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a report on Monday, November 11th. DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a report on Wednesday, December 18th. Finally, Piper Sandler boosted their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.40.

Inter Parfums Trading Up 1.3 %

Shares of NASDAQ IPAR opened at $132.93 on Thursday. The stock has a market cap of $4.26 billion, a P/E ratio of 28.53 and a beta of 1.20. The firm has a 50 day moving average price of $132.29 and a two-hundred day moving average price of $127.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $156.75.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. During the same period in the previous year, the firm earned $1.66 earnings per share. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts forecast that Inter Parfums will post 5.15 EPS for the current year.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $133.04, for a total transaction of $532,160.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after acquiring an additional 81 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Inter Parfums by 2.8% during the 2nd 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 period. Inspire Investing LLC boosted its holdings in shares of Inter Parfums by 3.9% in the 3rd quarter. Inspire Investing LLC now owns 3,208 shares of the company’s stock worth $415,000 after buying an additional 120 shares during the last quarter. KBC Group NV grew its position in Inter Parfums by 3.0% during the third quarter. KBC Group NV now owns 4,313 shares of the company’s stock valued at $558,000 after buying an additional 126 shares during the period. Finally, Bank of Montreal Can increased its holdings in Inter Parfums by 2.5% during the second quarter. Bank of Montreal Can now owns 5,924 shares of the company’s stock worth $708,000 after buying an additional 142 shares during the last quarter. 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.