Inter Parfums’ (IPAR) Buy Rating Reiterated at BWS Financial

BWS Financial reiterated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a report published on Wednesday, Benzinga reports. The brokerage currently has a $172.00 price target on the stock.

Separately, Piper Sandler boosted their price objective on shares of Inter Parfums from $175.00 to $176.00 and gave the company an overweight rating in a research report on Wednesday, January 24th.

Inter Parfums Price Performance

Inter Parfums stock opened at $127.88 on Wednesday. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 26.92 and a beta of 1.13. The firm’s fifty day moving average is $139.05 and its 200 day moving average is $135.51. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Inter Parfums has a 52-week low of $120.71 and a 52-week high of $161.17.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $328.74 million for the quarter, compared to the consensus estimate of $329.00 million. During the same quarter last year, the firm earned $0.71 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Inter Parfums will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.35%. Inter Parfums’s dividend payout ratio is presently 63.16%.

Insider Transactions at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $150,420. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 43.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. bought a new position in shares of Inter Parfums in the fourth quarter worth about $27,000. Principal Securities Inc. purchased a new stake in Inter Parfums in the fourth quarter worth about $30,000. Signaturefd LLC lifted its stake in Inter Parfums by 87.4% in the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the period. Johnson Financial Group Inc. purchased a new stake in Inter Parfums in the fourth quarter worth about $33,000. Finally, Hexagon Capital Partners LLC lifted its stake in Inter Parfums by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 121 shares during the period. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Company Profile

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.