Inter Parfums’ (IPAR) Buy Rating Reaffirmed at DA Davidson

DA Davidson reissued their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a research note released on Wednesday morning,Benzinga reports. DA Davidson currently has a $163.00 target price on the stock.

A number of other brokerages have also recently weighed in on IPAR. Piper Sandler raised 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. BWS Financial reiterated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Inter Parfums presently has an average rating of “Moderate Buy” and a consensus price target of $159.75.

Inter Parfums Stock Down 2.0 %

IPAR stock opened at $127.77 on Wednesday. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 27.42 and a beta of 1.20. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $129.13 and its 200 day moving average is $125.08.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm had revenue of $425.00 million for the quarter, compared to analysts’ expectations of $425.00 million. During the same quarter last year, the company posted $1.66 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts predict that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 43.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IPAR. Synovus Financial Corp raised its holdings in Inter Parfums by 12.3% in the 3rd quarter. Synovus Financial Corp now owns 4,546 shares of the company’s stock worth $589,000 after purchasing an additional 499 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Inter Parfums in the third quarter worth about $259,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Inter Parfums by 50.9% in 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 buying an additional 7,771 shares during the period. Geode Capital Management LLC boosted its position in Inter Parfums by 1.2% during the 3rd 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 in the last quarter. Finally, Barclays PLC grew its holdings in shares of Inter Parfums by 293.0% during the 3rd quarter. Barclays PLC now owns 34,689 shares of the company’s stock worth $4,492,000 after acquiring an additional 25,862 shares during the period. 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.