Inter Parfums (NASDAQ:IPAR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Inter Parfums (NASDAQ:IPAR) had its price objective increased by analysts at Canaccord Genuity Group from $158.00 to $168.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 19.92% from the company’s current price.

A number of other brokerages have also commented on IPAR. Piper Sandler boosted their price objective 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. DA Davidson raised their price target on shares of Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BWS Financial reiterated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Inter Parfums currently has an average rating of “Moderate Buy” and a consensus target price of $162.80.

Inter Parfums Stock Performance

Inter Parfums stock traded down $4.45 during trading hours on Thursday, hitting $140.09. The company had a trading volume of 190,700 shares, compared to its average volume of 127,841. Inter Parfums has a one year low of $108.39 and a one year high of $152.33. The firm has a market cap of $4.49 billion, a PE ratio of 30.26 and a beta of 1.20. The firm has a 50-day moving average of $135.47 and a 200 day moving average of $129.52. 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 (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm had revenue of $361.50 million for the quarter, compared to the consensus estimate of $361.56 million. On average, sell-side analysts expect that Inter Parfums will post 5.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new stake in Inter Parfums in the 4th quarter valued at about $1,606,000. Public Employees Retirement System of Ohio lifted its holdings in Inter Parfums by 17.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 92,953 shares of the company’s stock worth $12,224,000 after acquiring an additional 13,605 shares during the period. JT Stratford LLC purchased a new position in Inter Parfums in the fourth quarter worth $240,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Inter Parfums by 36.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,405 shares of the company’s stock valued at $4,919,000 after purchasing an additional 10,013 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in Inter Parfums in the 4th quarter valued at $46,649,000. Hedge funds and other institutional investors 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.