Inter Parfums (NASDAQ:IPAR) Receives Buy Rating from DA Davidson

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a note issued to investors on Thursday, Benzinga reports. They presently have a $192.00 price objective on the stock. DA Davidson’s price target indicates a potential upside of 62.05% from the stock’s current price.

A number of other equities analysts have also issued reports on IPAR. BWS Financial reissued a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Wednesday, April 17th. Piper Sandler dropped their target price on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th.

Inter Parfums Stock Down 3.9 %

Inter Parfums stock opened at $118.48 on Thursday. Inter Parfums has a fifty-two week low of $114.71 and a fifty-two week high of $156.75. The firm has a 50 day moving average price of $131.38 and a 200 day moving average price of $134.95. The company has a market capitalization of $3.79 billion, a PE ratio of 24.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.29). Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The business had revenue of $323.96 million during the quarter, compared to analyst estimates of $324.00 million. During the same quarter last year, the firm earned $1.68 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Research analysts expect that Inter Parfums will post 5.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in Inter Parfums by 94.4% in the third quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock valued at $37,136,000 after acquiring an additional 134,243 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Inter Parfums by 10.8% in the 3rd quarter. William Blair Investment Management LLC now owns 243,675 shares of the company’s stock worth $32,735,000 after purchasing an additional 23,838 shares during the period. Norges Bank acquired a new position in shares of Inter Parfums in the 4th quarter valued at about $32,493,000. Lord Abbett & CO. LLC grew its holdings in shares of Inter Parfums by 1.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 202,451 shares of the company’s stock worth $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 worth $29,039,000 after purchasing an additional 60,606 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.