DA Davidson Reiterates “Buy” Rating for Inter Parfums (NASDAQ:IPAR)

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating restated by analysts at DA Davidson in a report issued on Wednesday,Benzinga reports. They currently have a $163.00 price target on the stock. DA Davidson’s price objective suggests a potential upside of 22.18% from the company’s current price.

Several other equities research analysts have also weighed in on IPAR. BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Monday, November 11th. Piper Sandler upped their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Inter Parfums currently has an average rating of “Moderate Buy” and a consensus price target of $159.75.

Inter Parfums Stock Performance

Shares of IPAR opened at $133.41 on Wednesday. The stock has a market capitalization of $4.27 billion, a PE ratio of 28.63 and a beta of 1.20. The business’s fifty day moving average price is $128.54 and its 200 day moving average price is $124.88. 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 has a 12-month low of $108.39 and a 12-month high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. During the same quarter in the prior year, the firm earned $1.66 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts forecast that Inter Parfums will post 5.15 EPS for the current year.

Insider Activity at Inter Parfums

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the business’s stock in a transaction that occurred on 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 SEC, which is accessible through this link. 43.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Inter Parfums

Hedge funds have recently made changes to their positions in the stock. WCM Investment Management LLC grew its stake in shares of Inter Parfums by 2.9% in the 3rd quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock valued at $24,835,000 after buying an additional 5,482 shares in the last quarter. Algert Global LLC increased its stake in shares of Inter Parfums by 18.6% during the 2nd quarter. Algert Global LLC now owns 70,564 shares of the company’s stock worth $8,188,000 after purchasing an additional 11,089 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Inter Parfums by 11.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,733 shares of the company’s stock valued at $433,000 after purchasing an additional 393 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Inter Parfums by 19.9% in the 2nd quarter. Raymond James & Associates now owns 126,189 shares of the company’s stock valued at $14,642,000 after purchasing an additional 20,985 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Inter Parfums by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock worth $85,384,000 after purchasing an additional 4,862 shares in the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

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.