Inter Parfums (NASDAQ:IPAR) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Inter Parfums (NASDAQ:IPAR) in a research note released on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $158.00 price target on the stock.

A number of other brokerages also recently commented on IPAR. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, November 11th. DA Davidson reissued a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research report on Wednesday, December 18th. Finally, Piper Sandler upped their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $159.40.

Inter Parfums Trading Up 0.5 %

Shares of Inter Parfums stock opened at $138.59 on Thursday. Inter Parfums has a fifty-two week low of $108.39 and a fifty-two week high of $156.75. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 29.74 and a beta of 1.20. The business has a fifty day simple moving average of $132.73 and a 200-day simple moving average of $127.44.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Inter Parfums’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 earnings per share. On average, equities analysts forecast that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Activity

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. 43.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inter Parfums

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of 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 period. State Street Corp increased its stake in Inter Parfums by 0.3% in the 3rd quarter. State Street Corp now owns 676,253 shares of the company’s stock valued at $87,561,000 after buying an additional 2,255 shares during the last quarter. Royce & Associates LP grew its stake in Inter Parfums by 0.7% in the third quarter. Royce & Associates LP now owns 595,175 shares of the company’s stock valued at $77,063,000 after purchasing an additional 4,345 shares in the last quarter. Geode Capital Management LLC lifted its stake in Inter Parfums by 1.2% in the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after acquiring an additional 5,056 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position 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 worth $47,075,000 after buying an additional 356,949 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

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.