Canaccord Genuity Group Forecasts Strong Price Appreciation for Interparfums (NASDAQ:IPAR) Stock

Interparfums (NASDAQ:IPAR) had its price objective lifted by Canaccord Genuity Group from $151.00 to $154.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price points to a potential upside of 13.52% from the stock’s current price.

A number of other equities research analysts have also weighed in on IPAR. Berenberg Bank lowered shares of Interparfums from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a report on Friday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interparfums in a report on Friday, October 2nd. BWS Financial cut shares of Interparfums from a “neutral” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Monday, August 17th. The Goldman Sachs Group cut shares of Interparfums from a “buy” rating to a “neutral” rating and boosted their target price for the company from $110.00 to $129.00 in a research note on Monday, August 10th. Finally, Jefferies Financial Group increased their price target on shares of Interparfums from $115.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Interparfums currently has a consensus rating of “Hold” and an average price target of $123.71.

Interparfums Stock Up 0.3%

Shares of Interparfums stock traded up $0.38 on Friday, reaching $135.66. The stock had a trading volume of 129,441 shares, compared to its average volume of 258,712. The company has a 50 day moving average price of $115.09 and a 200 day moving average price of $105.20. The company has a quick ratio of 2.00, a current ratio of 3.31 and a debt-to-equity ratio of 0.09. Interparfums has a 1 year low of $77.21 and a 1 year high of $136.00. The stock has a market capitalization of $4.34 billion, a P/E ratio of 25.57 and a beta of 1.08.

Interparfums (NASDAQ:IPAR) last posted its earnings results on Wednesday, November 4th. The company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.32. The company had revenue of $429.51 million during the quarter, compared to analysts’ expectations of $430.00 million. Interparfums had a net margin of 11.33% and a return on equity of 15.44%. Interparfums’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. As a group, equities research analysts forecast that Interparfums will post 4.85 EPS for the current year.

Insider Transactions at Interparfums

In other Interparfums news, Director Veronique Gabai-Pinsky sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $116.86, for a total value of $105,174.00. Following the sale, the director directly owned 900 shares of the company’s stock, valued at approximately $105,174. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IPAR. Maryland State Retirement & Pension System lifted its stake in shares of Interparfums by 53.7% in the third quarter. Maryland State Retirement & Pension System now owns 4,101 shares of the company’s stock worth $455,000 after buying an additional 1,433 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Interparfums by 7.7% during the third quarter. Illinois Municipal Retirement Fund now owns 9,767 shares of the company’s stock worth $1,084,000 after acquiring an additional 698 shares during the last quarter. Bahl & Gaynor LLC grew its stake in Interparfums by 3.1% during the 3rd quarter. Bahl & Gaynor LLC now owns 446,199 shares of the company’s stock valued at $49,510,000 after acquiring an additional 13,451 shares in the last quarter. Keybank National Association OH grew its stake in Interparfums by 27.8% during the 3rd quarter. Keybank National Association OH now owns 5,013 shares of the company’s stock valued at $556,000 after acquiring an additional 1,091 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its stake in Interparfums by 5.4% during the 3rd quarter. Hohimer Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $269,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

About Interparfums

Interparfums, Inc (NASDAQ: IPAR) develops, manufactures and distributes prestige fragrances and related beauty products. The company operates primarily through licensing agreements with fashion, luxury and lifestyle brands, creating perfumes, colognes, body products and other fragrance-related offerings for men and women.

Its portfolio has included internationally recognized names such as Montblanc, Jimmy Choo, Coach, Kate Spade New York, Rochas, Boucheron, Van Cleef & Arpels, Oscar de la Renta and Karl Lagerfeld, although brand relationships and licensing arrangements may change over time.