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

DA Davidson reissued their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a research report released on Tuesday, Benzinga reports. The brokerage currently has a $163.00 price objective on the stock. DA Davidson also issued estimates for Inter Parfums’ Q3 2024 earnings at $1.87 EPS.

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

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $121.31 on Tuesday. The business has a 50 day moving average price of $122.49 and a 200 day moving average price of $122.66. Inter Parfums has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 27.95 and a beta of 1.15. 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 announced its earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $342.00 million. During the same quarter in the prior year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

Insider Buying and Selling

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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inter Parfums

A number of hedge funds and other institutional investors have recently bought and sold shares of IPAR. American Century Companies Inc. increased its holdings in Inter Parfums by 50.1% during the 2nd quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock valued at $36,846,000 after purchasing an additional 106,044 shares in the last quarter. F M Investments LLC acquired a new stake in Inter Parfums during the 2nd quarter valued at $9,328,000. Burney Co. acquired a new stake in Inter Parfums during the 1st quarter valued at $5,327,000. Vanguard Group Inc. increased its holdings in Inter Parfums by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock valued at $288,718,000 after purchasing an additional 30,316 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Inter Parfums by 541.7% during the 2nd quarter. Squarepoint Ops LLC now owns 29,056 shares of the company’s stock valued at $3,371,000 after purchasing an additional 24,528 shares in the last quarter. 55.57% of the stock is owned by institutional investors and hedge funds.

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.