Canaccord Genuity Group Reaffirms Buy Rating for Interparfums (NASDAQ:IPAR)

Interparfums (NASDAQ:IPAR)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity Group in a note issued to investors on Wednesday,Benzinga reports. They presently have a $123.00 target price on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 51.83% from the stock’s current price.

Several other research analysts have also weighed in on IPAR. Jefferies Financial Group lowered their target price on shares of Interparfums from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, October 28th. Sanford C. Bernstein upgraded shares of Interparfums to a “strong-buy” rating in a report on Tuesday, October 21st. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Interparfums in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Interparfums in a research report on Wednesday, October 8th. One 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 company. Based on data from MarketBeat, Interparfums has an average rating of “Buy” and an average price target of $145.60.

Interparfums Price Performance

IPAR stock opened at $81.01 on Wednesday. Interparfums has a 52-week low of $77.21 and a 52-week high of $148.15. The company has a quick ratio of 1.69, a current ratio of 2.96 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 16.23 and a beta of 1.39. The business has a fifty day moving average of $94.55 and a two-hundred day moving average of $115.06.

Interparfums (NASDAQ:IPAR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.89 by $0.16. The business had revenue of $429.58 million for the quarter, compared to analyst estimates of $431.78 million. Interparfums had a return on equity of 16.45% and a net margin of 11.03%.The company’s quarterly revenue 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. As a group, research analysts anticipate that Interparfums will post 5.14 earnings per share for the current year.

Institutional Trading of Interparfums

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Interparfums by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,118,154 shares of the company’s stock valued at $241,194,000 after acquiring an additional 67,533 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Interparfums by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,133,046 shares of the company’s stock worth $129,020,000 after purchasing an additional 8,318 shares during the period. Westwood Holdings Group Inc. raised its position in Interparfums by 66.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 775,590 shares of the company’s stock valued at $101,843,000 after purchasing an additional 310,712 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Interparfums by 2.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 714,891 shares of the company’s stock valued at $93,872,000 after buying an additional 15,453 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Interparfums by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 702,884 shares of the company’s stock worth $69,155,000 after buying an additional 5,703 shares in the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

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.