Canaccord Genuity Group Cuts Interparfums (NASDAQ:IPAR) Price Target to $123.00

Interparfums (NASDAQ:IPAR) had its target price lowered by equities researchers at Canaccord Genuity Group from $168.00 to $123.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 40.76% from the company’s previous close.

IPAR has been the subject of a number of other reports. Jefferies Financial Group lowered their price target on Interparfums from $150.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interparfums in a research note on Wednesday, October 8th. Sanford C. Bernstein raised shares of Interparfums to a “strong-buy” rating in a research note on Tuesday, October 21st. Finally, BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Interparfums in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $145.60.

Interparfums Trading Down 0.4%

Interparfums stock traded down $0.36 during midday trading on Friday, hitting $87.38. 200,030 shares of the stock were exchanged, compared to its average volume of 243,698. The company has a current ratio of 2.96, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $100.04 and its 200 day simple moving average is $116.64. Interparfums has a fifty-two week low of $86.50 and a fifty-two week high of $148.15. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 17.51 and a beta of 1.39.

Interparfums (NASDAQ:IPAR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.16. The business had revenue of $429.58 million during the quarter, compared to analysts’ expectations of $431.78 million. Interparfums had a net margin of 11.03% and a return on equity of 16.45%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 EPS. Interparfums has set its FY 2025 guidance at 5.120-5.120 EPS. On average, equities analysts anticipate that Interparfums will post 5.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. First National Bank of Omaha acquired a new stake in shares of Interparfums during the 3rd quarter worth about $351,000. JPMorgan Chase & Co. increased its stake in Interparfums by 27.4% in the third quarter. JPMorgan Chase & Co. now owns 114,625 shares of the company’s stock valued at $11,277,000 after purchasing an additional 24,673 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Interparfums by 13.4% during the third quarter. PNC Financial Services Group Inc. now owns 2,532 shares of the company’s stock worth $249,000 after purchasing an additional 300 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Interparfums by 16.4% during the third quarter. Public Sector Pension Investment Board now owns 71,421 shares of the company’s stock worth $7,026,000 after purchasing an additional 10,080 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Interparfums by 6.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 9,989 shares of the company’s stock worth $983,000 after buying an additional 642 shares during the last quarter. 55.57% of the stock is owned by institutional investors and hedge funds.

About Interparfums

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.