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 Friday, Benzinga reports. DA Davidson currently has a $192.00 price target on the stock. DA Davidson also issued estimates for Inter Parfums’ Q1 2024 earnings at $1.55 EPS.

IPAR has been the topic of a number of other reports. Piper Sandler dropped their target price on Inter Parfums from $176.00 to $172.00 and set an overweight rating on the stock in a research report on Thursday. BWS Financial restated a buy rating and set a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th.

Inter Parfums Stock Up 1.3 %

IPAR stock opened at $119.56 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.83 billion, a PE ratio of 25.17 and a beta of 1.13. The business has a 50 day moving average of $136.61 and a 200 day moving average of $135.31. Inter Parfums has a twelve month low of $116.75 and a twelve month high of $158.13.

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 company had revenue of $328.74 million for 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 business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. On average, research analysts forecast that Inter Parfums will post 5.15 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.51%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 14th. Inter Parfums’s payout ratio is presently 63.16%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IPAR. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Inter Parfums during the 4th quarter valued at approximately $27,000. Principal Securities Inc. purchased a new stake in shares of Inter Parfums during the 4th quarter valued at approximately $30,000. Signaturefd LLC raised its position in shares of Inter Parfums by 87.4% during the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock valued at $32,000 after buying an additional 104 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Inter Parfums during the 4th quarter valued at approximately $33,000. Finally, Hexagon Capital Partners LLC raised its position in shares of Inter Parfums by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying 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.