Inter Parfums (NASDAQ:IPAR) Price Target Raised to $130.00 at Piper Sandler

Inter Parfums (NASDAQ:IPARGet Rating) had its price target increased by Piper Sandler from $118.00 to $130.00 in a research note published on Tuesday, The Fly reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on IPAR. DA Davidson increased their target price on Inter Parfums from $116.00 to $126.00 in a research report on Friday, January 6th. StockNews.com upgraded Inter Parfums from a hold rating to a buy rating in a report on Thursday, January 19th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $118.33.

Inter Parfums Stock Up 0.4 %

Shares of NASDAQ:IPAR opened at $114.22 on Tuesday. Inter Parfums has a 52-week low of $64.52 and a 52-week high of $116.83. The stock has a market cap of $3.64 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98. The business’s 50 day moving average is $99.39 and its 200 day moving average is $86.57. The company has a quick ratio of 1.71, a current ratio of 2.85 and a debt-to-equity ratio of 0.15.

Inter Parfums (NASDAQ:IPARGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.31. Inter Parfums had a return on equity of 13.98% and a net margin of 10.45%. The company had revenue of $280.46 million for the quarter, compared to analysts’ expectations of $278.70 million. Sell-side analysts predict that Inter Parfums will post 3.6 EPS for the current year.

Inter Parfums Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $2.00 dividend on an annualized basis and a yield of 1.75%. Inter Parfums’s dividend payout ratio (DPR) is 62.11%.

Insider Buying and Selling

In related news, COO Pelayo Frederic Garcia sold 555 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $96.70, for a total value of $53,668.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Inter Parfums news, COO Pelayo Frederic Garcia sold 555 shares of Inter Parfums stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $96.70, for a total transaction of $53,668.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Russell Greenberg sold 13,282 shares of Inter Parfums stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $110.71, for a total value of $1,470,450.22. Following the transaction, the chief financial officer now owns 7,500 shares of the company’s stock, valued at approximately $830,325. The disclosure for this sale can be found here. Insiders sold 63,063 shares of company stock worth $6,471,551 in the last 90 days. Insiders own 44.20% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

Institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System grew its position in shares of Inter Parfums by 60.1% during the 2nd quarter. New York State Teachers Retirement System now owns 12,256 shares of the company’s stock valued at $895,000 after acquiring an additional 4,600 shares during the period. State of Alaska Department of Revenue grew its position in shares of Inter Parfums by 9.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 13,486 shares of the company’s stock valued at $985,000 after acquiring an additional 1,120 shares during the period. Raymond James & Associates grew its position in shares of Inter Parfums by 7.4% during the 3rd quarter. Raymond James & Associates now owns 117,835 shares of the company’s stock valued at $8,892,000 after acquiring an additional 8,130 shares during the period. WCM Investment Management LLC boosted its holdings in Inter Parfums by 0.8% in the 3rd quarter. WCM Investment Management LLC now owns 389,760 shares of the company’s stock worth $28,756,000 after buying an additional 3,191 shares during the last quarter. Finally, Crawford Investment Counsel Inc. boosted its holdings in Inter Parfums by 15.8% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 44,315 shares of the company’s stock worth $3,238,000 after buying an additional 6,060 shares during the last quarter. Hedge funds and other institutional investors own 55.41% of the company’s stock.

About Inter Parfums

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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. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lily Aldridge, Lanvin, Moncler, Montblanc, Rochas, S.T.

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