Inter Parfums (NASDAQ:IPAR) Earns Buy Rating from Analysts at Canaccord Genuity Group

Investment analysts at Canaccord Genuity Group began coverage on shares of Inter Parfums (NASDAQ:IPAR) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $158.00 price target on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 14.01% from the stock’s previous close.

A number of other research firms also recently issued reports on IPAR. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a report on Monday, November 11th. DA Davidson reaffirmed a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a research note on Wednesday, December 18th. Finally, Piper Sandler increased their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One 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 a consensus rating of “Moderate Buy” and an average target price of $159.40.

Inter Parfums Price Performance

Inter Parfums stock opened at $138.59 on Thursday. The business has a 50-day simple moving average of $132.73 and a 200 day simple moving average of $127.36. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $156.75. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 29.74 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 (NASDAQ:IPAR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The company 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%. Inter Parfums’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 earnings per share. On average, research analysts forecast that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Inter Parfums

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 43.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IPAR. GAMMA Investing LLC lifted its holdings in Inter Parfums by 55.9% in the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after buying an additional 81 shares during the period. Blue Trust Inc. lifted its stake in Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after acquiring an additional 296 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in Inter Parfums in the third quarter valued at $104,000. Crossmark Global Holdings Inc. purchased a new position in Inter Parfums during the 3rd quarter valued at $209,000. Finally, Choreo LLC bought a new position in Inter Parfums in the 2nd quarter worth $213,000. 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.