Piper Sandler Issues Pessimistic Forecast for Inter Parfums (NASDAQ:IPAR) Stock Price

Inter Parfums (NASDAQ:IPAR) had its target price dropped by Piper Sandler from $158.00 to $155.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 18.57% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday. Finally, DA Davidson restated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.50.

Inter Parfums Price Performance

Shares of Inter Parfums stock opened at $130.72 on Wednesday. The company has a 50-day simple moving average of $122.42 and a two-hundred day simple moving average of $122.47. Inter Parfums has a twelve month low of $108.39 and a twelve month high of $156.75. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 28.05 and a beta of 1.16. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

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. The firm 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 company’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $1.66 EPS. Analysts forecast that Inter Parfums will post 5.15 EPS for the current year.

Insiders Place Their Bets

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 43.90% of the company’s stock.

Institutional Trading of Inter Parfums

Several institutional investors and hedge funds have recently made changes to their positions in IPAR. Edgestream Partners L.P. bought a new stake in Inter Parfums in the 3rd quarter worth about $660,000. Northwest & Ethical Investments L.P. bought a new stake in Inter Parfums in the 3rd quarter valued at about $104,000. Glenmede Trust Co. NA lifted its stake in shares of Inter Parfums by 22.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 7,960 shares of the company’s stock valued at $1,031,000 after buying an additional 1,443 shares in the last quarter. FMR LLC raised its holdings in Inter Parfums by 13.3% during the 3rd quarter. FMR LLC now owns 3,365 shares of the company’s stock valued at $436,000 after acquiring an additional 395 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Inter Parfums by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 190,331 shares of the company’s stock worth $24,644,000 after purchasing an additional 1,129 shares in the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

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.