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

DA Davidson reaffirmed their buy rating on shares of Inter Parfums (NASDAQ:IPAR - Free Report) in a report released on Wednesday morning,Benzinga reports. DA Davidson currently has a $163.00 price target on the stock.

A number of other research firms have also issued reports on IPAR. Piper Sandler increased their target price on Inter Parfums from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. BWS Financial restated a "buy" rating and issued a $172.00 price target on shares of Inter Parfums in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $159.75.

Inter Parfums Trading Up 1.3 %

NASDAQ IPAR traded up $1.72 during mid-day trading on Wednesday, hitting $135.13. The company's stock had a trading volume of 12,436 shares, compared to its average volume of 144,053. The firm has a market capitalization of $4.33 billion, a P/E ratio of 28.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $156.75. The stock's fifty day simple moving average is $128.78 and its two-hundred day simple moving average is $124.97.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. During the same quarter in the previous year, the business posted $1.66 EPS. The business's quarterly revenue was up 15.5% on a year-over-year basis. Research analysts expect that Inter Parfums will post 5.15 EPS for the current year.

Insider Activity

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 43.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IPAR. Dimensional Fund Advisors LP lifted its holdings in Inter Parfums by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company's stock worth $85,384,000 after buying an additional 4,862 shares during the last quarter. State Street Corp lifted its stake in Inter Parfums by 0.3% during the third quarter. State Street Corp now owns 676,253 shares of the company's stock worth $87,561,000 after purchasing an additional 2,255 shares during the last quarter. Royce & Associates LP lifted its stake in Inter Parfums by 0.7% during the third quarter. Royce & Associates LP now owns 595,175 shares of the company's stock worth $77,063,000 after purchasing an additional 4,345 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Inter Parfums by 1.2% in the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company's stock worth $56,481,000 after purchasing an additional 5,056 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Inter Parfums by 5,393.6% during the third quarter. Victory Capital Management Inc. now owns 363,567 shares of the company's stock valued at $47,075,000 after purchasing an additional 356,949 shares during the last quarter. 55.57% of the stock is currently 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.