Inter Parfums (NASDAQ:IPAR) Stock Rating Reaffirmed by DA Davidson

DA Davidson restated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a research report sent to investors on Friday, Benzinga reports. DA Davidson currently has a $192.00 target price on the stock. DA Davidson also issued estimates for Inter Parfums’ Q1 2024 earnings at $1.55 EPS.

Several other research firms have also issued reports on IPAR. Piper Sandler dropped their price objective on Inter Parfums from $176.00 to $172.00 and set an overweight rating for the company in a research note on Thursday, April 25th. BWS Financial reiterated a buy rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, April 17th.

Inter Parfums Stock Down 1.5 %

Shares of IPAR stock opened at $117.79 on Friday. The stock has a market cap of $3.77 billion, a P/E ratio of 24.80 and a beta of 1.13. Inter Parfums has a one year low of $116.63 and a one year high of $156.75. The stock has a fifty day moving average price of $135.92 and a 200 day moving average price of $135.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. Analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.75 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, March 14th. Inter Parfums’s dividend payout ratio is currently 63.16%.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a filing with the SEC, which is accessible through this link. 43.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Inter Parfums

A number of hedge funds and other institutional investors have recently made changes to their positions in IPAR. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Inter Parfums in the fourth quarter valued at $27,000. Principal Securities Inc. acquired a new stake in shares of Inter Parfums in the fourth quarter valued at $30,000. Signaturefd LLC increased its position in Inter Parfums by 87.4% in the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the period. Johnson Financial Group Inc. acquired a new stake in Inter Parfums in the fourth quarter worth about $33,000. Finally, Hexagon Capital Partners LLC increased its position in Inter Parfums by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 121 shares during the period. 55.57% of the stock is currently owned by institutional investors and hedge funds.

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.