Piper Sandler Lowers Inter Parfums (NASDAQ:IPAR) Price Target to $155.00

Inter Parfums (NASDAQ:IPAR) had its price objective decreased by stock analysts at Piper Sandler from $158.00 to $155.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 19.32% from the company’s previous close.

Several other research analysts have also recently issued reports on IPAR. BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Monday. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, DA Davidson reissued a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.50.

Inter Parfums Stock Performance

NASDAQ IPAR traded up $3.90 during trading hours on Wednesday, hitting $129.90. The company’s stock had a trading volume of 61,329 shares, compared to its average volume of 145,117. Inter Parfums has a 12 month low of $108.39 and a 12 month high of $156.75. The company’s 50 day simple moving average is $122.33 and its two-hundred day simple moving average is $122.43. The company has a market cap of $4.16 billion, a P/E ratio of 27.89 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. During the same period last year, the company earned $1.66 EPS. Inter Parfums’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

A number of hedge funds have recently made changes to their positions in IPAR. Victory Capital Management Inc. lifted its stake in shares of Inter Parfums by 5,393.6% during the 3rd quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock worth $47,075,000 after purchasing an additional 356,949 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Inter Parfums by 50.1% during the 2nd quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock worth $36,846,000 after purchasing an additional 106,044 shares during the last quarter. F M Investments LLC purchased a new stake in shares of Inter Parfums during the 2nd quarter worth $9,328,000. Burney Co. purchased a new stake in shares of Inter Parfums during the 1st quarter worth $5,327,000. Finally, Vanguard Group Inc. increased its position 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 buying an additional 30,316 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.