Inter Parfums (NASDAQ:IPAR) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Inter Parfums (NASDAQ:IPAR - Free Report) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $158.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. BWS Financial reaffirmed a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a research note on Monday, November 11th. Piper Sandler boosted their target price 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. Finally, DA Davidson reaffirmed a "buy" rating and set a $163.00 target price on shares of Inter Parfums in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Inter Parfums has an average rating of "Moderate Buy" and a consensus price target of $159.40.

Inter Parfums Stock Performance

Shares of IPAR traded up $4.92 during mid-day trading on Thursday, hitting $137.85. 117,783 shares of the company's stock were exchanged, compared to its average volume of 110,834. The stock's 50-day simple moving average is $132.29 and its 200-day simple moving average is $127.12. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 29.58 and a beta of 1.20. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $156.75.

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

Insider Transactions at Inter Parfums

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $133.04, for a total transaction of $532,160.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 43.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inter Parfums

A number of hedge funds have recently modified their holdings of IPAR. GAMMA Investing LLC lifted its holdings in Inter Parfums by 55.9% in the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company's stock valued at $30,000 after buying an additional 81 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Inter Parfums by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company's stock valued at $390,000 after buying an additional 92 shares during the period. Inspire Investing LLC lifted its holdings in Inter Parfums by 3.9% in the third quarter. Inspire Investing LLC now owns 3,208 shares of the company's stock valued at $415,000 after buying an additional 120 shares during the period. KBC Group NV lifted its holdings in Inter Parfums by 3.0% in the third quarter. KBC Group NV now owns 4,313 shares of the company's stock valued at $558,000 after buying an additional 126 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Inter Parfums by 2.5% in the second quarter. Bank of Montreal Can now owns 5,924 shares of the company's stock valued at $708,000 after buying an additional 142 shares during the period. 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.