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

DA Davidson reissued their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a report published on Friday morning, Benzinga reports. They currently have a $192.00 price objective on the stock. DA Davidson also issued estimates for Inter Parfums’ Q1 2024 earnings at $1.55 EPS.

A number of other research analysts have also issued reports on the stock. BWS Financial reissued a buy rating and set a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th. Piper Sandler reduced their target price on shares of Inter Parfums from $176.00 to $172.00 and set an overweight rating for the company in a research note on Thursday, April 25th.

Inter Parfums Trading Down 1.5 %

NASDAQ IPAR opened at $117.79 on Friday. Inter Parfums has a one year low of $116.63 and a one year high of $156.75. The company has a 50-day simple moving average of $135.92 and a 200-day simple moving average of $135.34. 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 firm has a market capitalization of $3.77 billion, a PE ratio of 24.80 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $328.74 million for the quarter, compared to analyst estimates of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that Inter Parfums will post 5.15 earnings per share for the current year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase 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 63.16%.

Insiders Place Their Bets

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $150,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 43.90% of the stock is owned by insiders.

Institutional Trading of Inter Parfums

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Inter Parfums in the 3rd quarter worth approximately $1,294,000. Raymond James & Associates raised its holdings in shares of Inter Parfums by 2.2% in the 3rd 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 in the last quarter. Redwood Investments LLC bought a new stake in shares of Inter Parfums in the 3rd quarter worth approximately $6,865,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Inter Parfums by 13.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,905 shares of the company’s stock worth $525,000 after purchasing an additional 478 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Inter Parfums by 2.7% in the 3rd quarter. Strs Ohio now owns 7,600 shares of the company’s stock worth $1,020,000 after purchasing an additional 200 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

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.