Equities researchers at Canaccord Genuity Group initiated coverage on shares of Inter Parfums (NASDAQ:IPAR – Get Free Report) in a research note issued 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 points to a potential upside of 14.01% from the stock’s previous close.
A number of other brokerages also recently commented on IPAR. BWS Financial reaffirmed a “buy” rating and set a $172.00 price target 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 report on Wednesday, December 18th. Finally, Piper Sandler raised their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.40.
Read Our Latest Stock Analysis on IPAR
Inter Parfums Price Performance
Inter Parfums (NASDAQ:IPAR – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. During the same period last year, the firm earned $1.66 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, analysts forecast that Inter Parfums will post 5.15 EPS for the current fiscal year.
Insider Activity
In related news, COO Pelayo Frederic Garcia sold 4,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 43.90% of the company’s stock.
Hedge Funds Weigh In On Inter Parfums
Several large investors have recently modified their holdings of IPAR. WCM Investment Management LLC boosted its holdings in Inter Parfums by 2.9% in the 3rd quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock worth $24,835,000 after buying an additional 5,482 shares during the period. Algert Global LLC grew its position in shares of Inter Parfums by 18.6% in the second quarter. Algert Global LLC now owns 70,564 shares of the company’s stock valued at $8,188,000 after purchasing an additional 11,089 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Inter Parfums by 50.9% during 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 during the period. Dimensional Fund Advisors LP lifted its holdings in 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 purchasing an additional 4,862 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Inter Parfums by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after purchasing an additional 5,056 shares during the period. Hedge funds and other 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.
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