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

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating restated by DA Davidson in a report issued on Thursday,Benzinga reports. They currently have a $163.00 target price on the stock. DA Davidson’s price target suggests a potential upside of 15.68% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. BWS Financial restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Monday, November 11th. Piper Sandler raised their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group began coverage on Inter Parfums in a research report on Thursday, January 16th. They issued a “buy” rating and a $158.00 target price on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Inter Parfums has a consensus rating of “Moderate Buy” and a consensus target price of $159.40.

Inter Parfums Stock Performance

IPAR opened at $140.91 on Thursday. The firm has a market cap of $4.51 billion, a P/E ratio of 30.24 and a beta of 1.20. The business’s fifty day moving average is $134.15 and its 200-day moving average is $128.30. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $156.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $425.00 million for the quarter, compared to the consensus estimate of $425.00 million. During the same period in the prior year, the company posted $1.66 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts expect that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Activity

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 43.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inter Parfums

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after purchasing an additional 81 shares during the period. Blue Trust Inc. lifted its holdings in Inter Parfums by 83.4% during the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after buying an additional 296 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in shares of Inter Parfums in the 3rd quarter valued at about $104,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Inter Parfums in the third quarter valued at about $209,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Inter Parfums during the third quarter worth about $233,000. 55.57% of the stock is owned by 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.