DA Davidson Reaffirms “Buy” Rating for Inter Parfums (NASDAQ:IPAR)

DA Davidson reissued their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a research note published on Tuesday,Benzinga reports. They currently have a $170.00 price objective on the stock.

IPAR has been the subject of a number of other reports. Piper Sandler boosted their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, March 17th. Finally, Canaccord Genuity Group upped their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Price Performance

NASDAQ IPAR opened at $121.49 on Tuesday. Inter Parfums has a fifty-two week low of $108.39 and a fifty-two week high of $148.15. The stock’s 50-day moving average is $133.87 and its two-hundred day moving average is $129.78. The firm has a market cap of $3.90 billion, a P/E ratio of 26.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. On average, analysts anticipate that Inter Parfums will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.80 per share. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.63%. The ex-dividend date is Friday, March 14th. Inter Parfums’s dividend payout ratio is presently 62.87%.

Institutional Trading of Inter Parfums

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after buying an additional 81 shares during the last quarter. Cetera Investment Advisers raised its holdings in Inter Parfums by 1.7% in the 4th quarter. Cetera Investment Advisers now owns 5,796 shares of the company’s stock valued at $762,000 after acquiring an additional 96 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Inter Parfums by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,907 shares of the company’s stock worth $251,000 after acquiring an additional 121 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Inter Parfums by 7.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company’s stock worth $239,000 after acquiring an additional 124 shares during the period. Finally, Sherbrooke Park Advisers LLC grew its holdings in shares of Inter Parfums by 6.1% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 2,249 shares of the company’s stock worth $296,000 after purchasing an additional 130 shares in the last quarter. 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.