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

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $170.00 target price on the stock. DA Davidson’s price target would indicate a potential upside of 41.84% from the company’s current price.

Several other equities research analysts have also commented on the stock. Piper Sandler boosted their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their price target on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Stock Down 1.0 %

Inter Parfums stock traded down $1.16 during trading hours on Tuesday, hitting $119.85. 44,462 shares of the stock traded hands, compared to its average volume of 153,034. The company has a market cap of $3.85 billion, a PE ratio of 25.71 and a beta of 1.18. 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 firm’s 50-day moving average price is $134.72 and its two-hundred day moving average price is $129.91. Inter Parfums has a one year low of $108.39 and a one year high of $148.15.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The firm had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. On average, research analysts forecast that Inter Parfums will post 5.14 EPS for the current year.

Hedge Funds Weigh In On Inter Parfums

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC raised its stake in shares of Inter Parfums by 125.3% in the third quarter. Intech Investment Management LLC now owns 7,479 shares of the company’s stock worth $968,000 after purchasing an additional 4,160 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Inter Parfums by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 190,331 shares of the company’s stock worth $24,644,000 after buying an additional 1,129 shares during the last quarter. FMR LLC lifted its stake in Inter Parfums by 13.3% during the 3rd quarter. FMR LLC now owns 3,365 shares of the company’s stock valued at $436,000 after acquiring an additional 395 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Inter Parfums by 22.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 7,960 shares of the company’s stock valued at $1,031,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of Inter Parfums in the third quarter worth approximately $104,000. 55.57% of the stock is owned by 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.