Piper Sandler Lowers Inter Parfums (NASDAQ:IPAR) Price Target to $172.00

Inter Parfums (NASDAQ:IPAR) had its price objective lowered by stock analysts at Piper Sandler from $176.00 to $172.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 31.78% from the company’s previous close.

Separately, BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Wednesday, April 17th.

Inter Parfums Trading Down 0.5 %

Shares of IPAR stock opened at $130.52 on Thursday. Inter Parfums has a 52-week low of $120.71 and a 52-week high of $158.13. The company has a 50-day simple moving average of $138.24 and a two-hundred day simple moving average of $135.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 27.48 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $328.74 million during the quarter, compared to analysts’ expectations of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Research analysts anticipate that Inter Parfums will post 5.16 EPS for the current fiscal year.

Insider Buying and Selling at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

A number of hedge funds and other institutional investors have recently bought and sold shares of IPAR. SG Americas Securities LLC purchased a new stake in shares of Inter Parfums during the 3rd quarter valued at $1,294,000. Raymond James & Associates lifted its stake in Inter Parfums by 2.2% during the third quarter. Raymond James & Associates now owns 102,298 shares of the company’s stock worth $13,743,000 after purchasing an additional 2,236 shares during the last quarter. Redwood Investments LLC purchased a new position in shares of Inter Parfums in the 3rd quarter worth about $6,865,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Inter Parfums by 13.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,905 shares of the company’s stock valued at $525,000 after purchasing an additional 478 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Inter Parfums by 2.7% during the 3rd quarter. Strs Ohio now owns 7,600 shares of the company’s stock valued at $1,020,000 after buying an additional 200 shares in the last quarter. 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.