Inter Parfums (NASDAQ:IPAR) Earns “Buy” Rating from DA Davidson

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

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

Inter Parfums Price Performance

Shares of Inter Parfums stock opened at $119.13 on Friday. The business has a 50 day moving average of $126.66 and a 200 day moving average of $125.40. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $156.75. The company has a market cap of $3.82 billion, a PE ratio of 27.45 and a beta of 1.16. The company has a quick ratio of 1.27, a current ratio of 2.58 and a debt-to-equity ratio of 0.12.

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

Insider Transactions at Inter Parfums

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd bought a new stake in shares of Inter Parfums during the first quarter valued at approximately $638,000. Annex Advisory Services LLC raised its stake in shares of Inter Parfums by 26.9% in the first quarter. Annex Advisory Services LLC now owns 53,111 shares of the company’s stock worth $7,463,000 after purchasing an additional 11,259 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Inter Parfums by 6.0% in the first quarter. Bessemer Group Inc. now owns 85,990 shares of the company’s stock worth $12,082,000 after purchasing an additional 4,880 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Inter Parfums during the fourth quarter valued at $16,226,000. Finally, Empowered Funds LLC purchased a new stake in shares of Inter Parfums during the first quarter valued at $1,018,000. 55.57% of the stock is 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.