Inter Parfums (NASDAQ:IPAR) Rating Reiterated by DA Davidson

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a research note issued to investors on Friday, Benzinga reports. They currently have a $192.00 price target on the stock. DA Davidson’s price objective suggests a potential upside of 60.59% from the stock’s previous close. DA Davidson also issued estimates for Inter Parfums’ Q1 2024 earnings at $1.55 EPS.

Other analysts have also issued reports about the stock. BWS Financial restated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research report on Wednesday, April 17th. Piper Sandler decreased their target price on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research report on Thursday.

Inter Parfums Stock Performance

NASDAQ:IPAR opened at $119.56 on Friday. Inter Parfums has a 1 year low of $116.75 and a 1 year high of $158.13. The firm’s fifty day simple moving average is $136.61 and its 200 day simple moving average is $135.31. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.83 billion, a PE ratio of 25.17 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $328.74 million during the quarter, compared to analyst estimates of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. On average, sell-side analysts anticipate that Inter Parfums will post 5.15 EPS for the current year.

Insider Activity

In related news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $150,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 43.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inter Parfums

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Inter Parfums by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock valued at $1,641,000 after purchasing an additional 81 shares during the last quarter. Comerica Bank raised its stake in shares of Inter Parfums by 0.7% in the fourth quarter. Comerica Bank now owns 11,360 shares of the company’s stock worth $1,636,000 after acquiring an additional 83 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Inter Parfums by 0.8% in the third quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock worth $1,721,000 after acquiring an additional 100 shares during the last quarter. Signaturefd LLC raised its stake in shares of Inter Parfums by 87.4% in the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Inter Parfums by 4.9% in the fourth quarter. Fifth Third Bancorp now owns 2,567 shares of the company’s stock worth $370,000 after acquiring an additional 120 shares during the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Company Profile

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.