Inter Parfums’ (IPAR) “Buy” Rating Reaffirmed at DA Davidson
Inter Parfums, Inc. (NASDAQ:IPAR)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a report issued on Thursday. They currently have a $45.00 price target on the stock, up from their previous price target of $44.00. DA Davidson’s price objective suggests a potential upside of 14.94% from the stock’s previous close.
A number of other brokerages also recently issued reports on IPAR. BidaskClub downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC initiated coverage on shares of Inter Parfums in a research report on Friday, June 2nd. They issued a “hold” rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $39.71.
Shares of Inter Parfums (NASDAQ:IPAR) opened at 39.15 on Thursday. The stock’s 50 day moving average is $37.00 and its 200-day moving average is $35.77. Inter Parfums has a 12-month low of $29.40 and a 12-month high of $41.70. The stock has a market cap of $1.22 billion, a PE ratio of 31.07 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Inter Parfums had a net margin of 7.14% and a return on equity of 8.25%. The firm had revenue of $129.10 million for the quarter, compared to the consensus estimate of $122.57 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that Inter Parfums will post $1.28 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Dubuque Bank & Trust Co. bought a new stake in Inter Parfums during the first quarter valued at $139,000. Independent Portfolio Consultants Inc. increased its stake in Inter Parfums by 5.7% in the first quarter. Independent Portfolio Consultants Inc. now owns 15,565 shares of the company’s stock valued at $569,000 after buying an additional 845 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Inter Parfums during the first quarter valued at $732,000. Nationwide Fund Advisors increased its stake in Inter Parfums by 4.8% in the first quarter. Nationwide Fund Advisors now owns 28,994 shares of the company’s stock valued at $1,060,000 after buying an additional 1,322 shares in the last quarter. Finally, Capital Impact Advisors LLC increased its stake in Inter Parfums by 49.9% in the first quarter. Capital Impact Advisors LLC now owns 42,532 shares of the company’s stock valued at $1,555,000 after buying an additional 14,159 shares in the last quarter. 54.18% of the stock is currently owned by institutional investors.
Inter Parfums Company Profile
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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