Inter Parfums (NASDAQ:IPAR) Given Buy Rating at DA Davidson

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reissued by DA Davidson in a research report issued on Friday, Benzinga reports. They presently have a $192.00 price target on the stock. DA Davidson’s target price points to 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.

Several other brokerages have also weighed in on IPAR. BWS Financial reissued a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, April 17th. Piper Sandler dropped their price objective 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. 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’s fifty day moving average price is $136.61 and its two-hundred day moving average price is $135.31. Inter Parfums has a 1 year low of $116.75 and a 1 year high of $158.13. The firm has a market capitalization of $3.83 billion, a P/E ratio of 25.17 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. Inter Parfums’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, research analysts anticipate that Inter Parfums will post 5.15 EPS for the current year.

Insider Activity at Inter Parfums

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

Hedge Funds Weigh In On Inter Parfums

Hedge funds have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Inter Parfums in the 4th quarter valued at about $27,000. Principal Securities Inc. bought a new position in Inter Parfums in the 4th quarter valued at about $30,000. Signaturefd LLC increased its holdings in Inter Parfums by 87.4% in the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock valued at $32,000 after buying an additional 104 shares during the period. Johnson Financial Group Inc. bought a new position in Inter Parfums in the 4th quarter valued at about $33,000. Finally, Hexagon Capital Partners LLC increased its holdings in Inter Parfums by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 121 shares during the period. 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.