Inter Parfums (NASDAQ:IPAR) Price Target Cut to $155.00 by Analysts at Piper Sandler

Inter Parfums (NASDAQ:IPAR) had its price target cut by Piper Sandler from $158.00 to $155.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, November 11th. Finally, DA Davidson restated a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Inter Parfums presently has a consensus rating of “Moderate Buy” and an average price target of $157.50.

Inter Parfums Stock Performance

Shares of NASDAQ IPAR opened at $124.65 on Wednesday. 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. The business’s 50-day simple moving average is $122.71 and its 200-day simple moving average is $122.62. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 26.75 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $425.00 million for the quarter, compared to the consensus estimate of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share. As a group, equities research analysts expect that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction that occurred 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 hyperlink. 43.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IPAR. Texas Permanent School Fund Corp increased its holdings in Inter Parfums by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 15,674 shares of the company’s stock valued at $2,202,000 after purchasing an additional 203 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Inter Parfums by 476.0% in the first quarter. Quantbot Technologies LP now owns 2,932 shares of the company’s stock valued at $412,000 after buying an additional 2,423 shares during the last quarter. Empowered Funds LLC acquired a new position in Inter Parfums during the 1st quarter worth about $1,018,000. ProShare Advisors LLC grew its holdings in Inter Parfums by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 3,692 shares of the company’s stock worth $519,000 after acquiring an additional 255 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in Inter Parfums by 7.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 5,633 shares of the company’s stock valued at $801,000 after acquiring an additional 390 shares in the last quarter. 55.57% of the stock is currently 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.