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

DA Davidson reaffirmed their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a report issued on Thursday morning,Benzinga reports. DA Davidson currently has a $163.00 price objective on the stock.

A number of other brokerages also recently weighed in on IPAR. Canaccord Genuity Group assumed coverage on shares of Inter Parfums in a research report on Thursday, January 16th. They set a “buy” rating and a $158.00 price objective for the company. BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, November 11th. Finally, Piper Sandler raised their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.40.

Inter Parfums Trading Down 1.8 %

Shares of NASDAQ IPAR opened at $141.81 on Thursday. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $133.60 and its two-hundred day moving average price is $128.03. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $156.75. The stock has a market capitalization of $4.54 billion, a P/E ratio of 30.43 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. On average, analysts anticipate that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums 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 filing with the SEC, which is available at this hyperlink. 43.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IPAR. WCM Investment Management LLC grew its position in Inter Parfums by 2.9% in the 3rd quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock valued at $24,835,000 after buying an additional 5,482 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Inter Parfums by 18.6% in the second quarter. Algert Global LLC now owns 70,564 shares of the company’s stock valued at $8,188,000 after acquiring an additional 11,089 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Inter Parfums by 1.2% during the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after acquiring an additional 5,056 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in Inter Parfums by 50.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock worth $2,982,000 after purchasing an additional 7,771 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Inter Parfums by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock worth $85,384,000 after purchasing an additional 4,862 shares during the period. 55.57% of the stock is owned by institutional investors and hedge funds.

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.