Piper Sandler Reiterates Overweight Rating for Inter Parfums (NASDAQ:IPAR)

Piper Sandler reaffirmed their overweight rating on shares of Inter Parfums (NASDAQ:IPAR) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $151.00 price target on the stock, up from their prior price target of $150.00.

IPAR has been the topic of a number of other reports. DA Davidson reiterated a buy rating and set a $192.00 price objective on shares of Inter Parfums in a research note on Monday. BWS Financial reiterated a buy rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Thursday, May 9th. Jefferies Financial Group upgraded shares of Inter Parfums from a hold rating to a buy rating and set a $140.00 price objective on the stock in a research note on Friday, July 12th. Finally, StockNews.com upgraded shares of Inter Parfums from a sell rating to a hold rating in a research note on Saturday, June 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Inter Parfums presently has a consensus rating of Moderate Buy and an average price target of $163.75.

Inter Parfums Price Performance

Shares of IPAR stock opened at $136.04 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.75 and a quick ratio of 1.43. The company has a market capitalization of $4.36 billion, a P/E ratio of 31.35 and a beta of 1.18. The company’s 50-day simple moving average is $119.02 and its two-hundred day simple moving average is $130.09. Inter Parfums has a one year low of $108.39 and a one year high of $156.75.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, May 7th. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.29). Inter Parfums had a return on equity of 15.85% and a net margin of 10.50%. The company had revenue of $323.96 million during the quarter, compared to the consensus estimate of $324.00 million. During the same quarter in the prior year, the company earned $1.68 earnings per share. Inter Parfums’s revenue was up 3.9% on a year-over-year basis. As a group, equities analysts anticipate that Inter Parfums will post 5.15 EPS for the current year.

Institutional Investors Weigh In On Inter Parfums

Institutional investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Inter Parfums in the fourth quarter valued at approximately $27,000. Principal Securities Inc. purchased a new position in shares of Inter Parfums in the fourth quarter worth $30,000. Whittier Trust Co. purchased a new position in shares of Inter Parfums in the first quarter worth $31,000. Signaturefd LLC raised its holdings in shares of Inter Parfums by 87.4% in the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Inter Parfums in the fourth quarter worth $33,000. 55.57% of the stock is currently 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.