Inter Parfums (NASDAQ:IPAR) Receives “Buy” Rating from DA Davidson

DA Davidson reiterated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a research report released on Tuesday morning,Benzinga reports. DA Davidson currently has a $170.00 price target on the stock.

IPAR has been the topic of a number of other reports. Piper Sandler raised their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group raised their target price 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. Finally, BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Trading Down 2.0 %

Shares of Inter Parfums stock opened at $118.56 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The business has a fifty day simple moving average of $134.72 and a two-hundred day simple moving average of $129.91. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $148.15. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 25.44 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 earnings per share (EPS) 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 company had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Research analysts forecast that Inter Parfums will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio (DPR) is currently 62.87%.

Hedge Funds Weigh In On Inter Parfums

A number of institutional investors have recently modified their holdings of IPAR. Geode Capital Management LLC grew its position 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. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Inter Parfums by 50.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock valued at $2,982,000 after purchasing an additional 7,771 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Inter Parfums by 36.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,108 shares of the company’s stock valued at $540,000 after purchasing an additional 1,095 shares during the last quarter. Annex Advisory Services LLC increased its position in Inter Parfums by 36.5% during the 4th quarter. Annex Advisory Services LLC now owns 118,390 shares of the company’s stock worth $15,569,000 after purchasing an additional 31,654 shares in the last quarter. Finally, Monument Capital Management bought a new position in Inter Parfums in the 4th quarter valued at approximately $362,000. Institutional investors and hedge funds 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.