Inter Parfums (NASDAQ:IPAR) Stock Rating Reaffirmed by DA Davidson

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $163.00 price objective on the stock. DA Davidson’s price objective would indicate a potential upside of 38.35% from the stock’s current price.

IPAR has been the topic of several other research reports. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Thursday, August 8th. Jefferies Financial Group raised Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Friday, July 12th. Finally, Piper Sandler restated an “overweight” rating and issued a $151.00 price objective (up previously from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Inter Parfums Price Performance

Shares of NASDAQ IPAR traded up $2.02 during trading on Friday, hitting $117.82. 53,796 shares of the company were exchanged, compared to its average volume of 142,686. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $156.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27. The firm’s fifty day moving average price is $126.52 and its 200 day moving average price is $126.16. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 27.15 and a beta of 1.16.

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

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 43.90% of the company’s stock.

Institutional Trading of Inter Parfums

Several hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in shares of Inter Parfums by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock worth $1,641,000 after purchasing an additional 81 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Inter Parfums in the 4th quarter valued at approximately $30,000. BNP Paribas Financial Markets grew its holdings in shares of Inter Parfums by 7.3% in the fourth quarter. BNP Paribas Financial Markets now owns 29,344 shares of the company’s stock valued at $4,226,000 after purchasing an additional 2,002 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Inter Parfums by 8.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,059 shares of the company’s stock valued at $297,000 after purchasing an additional 153 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Inter Parfums by 36.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,562 shares of the company’s stock valued at $3,460,000 after purchasing an additional 6,860 shares in the last quarter. 55.57% of the stock is currently owned by hedge funds and other 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.