Inter Parfums’ (IPAR) Buy Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $170.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday, March 17th. Canaccord Genuity Group raised their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Piper Sandler boosted their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Price Performance

Shares of Inter Parfums stock opened at $121.49 on Tuesday. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $148.15. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $133.87 and its two-hundred day moving average price is $129.78. The stock has a market cap of $3.90 billion, a PE ratio of 26.07 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The business had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. As a group, sell-side analysts anticipate that Inter Parfums will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio is currently 62.87%.

Institutional Investors Weigh In On Inter Parfums

A number of institutional investors have recently modified their holdings of IPAR. GAMMA Investing LLC raised 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 acquiring an additional 81 shares in the last quarter. Coppell Advisory Solutions LLC increased its position in Inter Parfums by 210.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company’s stock worth $67,000 after purchasing an additional 347 shares during the last quarter. SRH Advisors LLC raised its stake in shares of Inter Parfums by 791.7% during the 4th quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after purchasing an additional 475 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Inter Parfums during the 3rd quarter valued at about $104,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Inter Parfums by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock valued at $105,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

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.