Inter Parfums’ (IPAR) “Buy” Rating Reaffirmed at DA Davidson

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating restated by DA Davidson in a research note issued to investors on Friday, Benzinga reports. They presently have a $192.00 price target on the stock. DA Davidson’s price objective suggests a potential upside of 62.70% from the stock’s current price.

IPAR has been the subject of several other reports. BWS Financial reiterated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th. Piper Sandler dropped their target price on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research report on Thursday.

Inter Parfums Price Performance

IPAR stock opened at $118.01 on Friday. The firm has a 50 day moving average of $137.26 and a 200-day moving average of $135.40. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. Inter Parfums has a 12 month low of $116.75 and a 12 month high of $158.13. The firm has a market capitalization of $3.78 billion, a P/E ratio of 24.84 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The company had revenue of $328.74 million for the quarter, compared to the consensus estimate of $329.00 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Inter Parfums will post 5.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 43.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Inter Parfums by 94.4% in the third quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock worth $37,136,000 after buying an additional 134,243 shares during the period. William Blair Investment Management LLC increased its position in Inter Parfums by 10.8% during the 3rd quarter. William Blair Investment Management LLC now owns 243,675 shares of the company’s stock valued at $32,735,000 after purchasing an additional 23,838 shares during the period. Norges Bank purchased a new position in Inter Parfums during the 4th quarter valued at $32,493,000. Lord Abbett & CO. LLC increased its position in Inter Parfums by 1.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 202,451 shares of the company’s stock valued at $27,197,000 after purchasing an additional 3,774 shares during the period. Finally, First Trust Advisors LP increased its position in Inter Parfums by 43.0% during the 4th quarter. First Trust Advisors LP now owns 201,643 shares of the company’s stock valued at $29,039,000 after purchasing an additional 60,606 shares during the period. 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.