DA Davidson Reaffirms Buy Rating for Inter Parfums (NASDAQ:IPAR)

Inter Parfums (NASDAQ:IPAR)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $170.00 target price on the stock. DA Davidson’s target price would suggest a potential upside of 42.83% from the stock’s current price.

Other analysts also recently issued research reports about the stock. BWS Financial reaffirmed a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Monday, March 17th. Piper Sandler raised their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.80.

Inter Parfums Stock Performance

NASDAQ:IPAR opened at $119.02 on Tuesday. The firm’s fifty day simple moving average is $134.47 and its 200 day simple moving average is $129.91. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums has a twelve month low of $108.39 and a twelve month high of $148.15. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 25.54 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. As a group, equities research analysts expect that Inter Parfums will post 5.14 earnings per share for the current fiscal year.

Institutional Trading of Inter Parfums

A number of hedge funds and other institutional investors have recently made changes to their positions in IPAR. GAMMA Investing LLC grew its holdings in Inter Parfums by 55.9% during the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after acquiring an additional 81 shares in the last quarter. Coppell Advisory Solutions LLC lifted its position in shares of Inter Parfums by 210.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company’s stock worth $67,000 after purchasing an additional 347 shares during the last quarter. SRH Advisors LLC grew its stake in Inter Parfums by 791.7% in the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after purchasing an additional 475 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Inter Parfums in the third quarter valued at about $104,000. Finally, Canada Pension Plan Investment Board raised its stake in Inter Parfums by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock valued at $105,000 after buying an additional 400 shares in the last quarter. Institutional investors 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.