Inter Parfums (NASDAQ:IPAR) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Inter Parfums (NASDAQ:IPAR) in a research note released on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $158.00 price target on the stock.

A number of other equities research analysts have also issued reports on IPAR. Piper Sandler increased their price target on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday, November 11th. Finally, DA Davidson reiterated a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.40.

Inter Parfums Trading Up 3.7 %

Shares of IPAR stock opened at $137.85 on Thursday. Inter Parfums has a fifty-two week low of $108.39 and a fifty-two week high of $156.75. The company has a 50 day moving average price of $132.52 and a 200 day moving average price of $127.19. The stock has a market capitalization of $4.42 billion, a P/E ratio of 29.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company had revenue of $425.00 million during the quarter, compared to analysts’ expectations of $425.00 million. During the same quarter last year, the company posted $1.66 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 43.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Inter Parfums by 5,393.6% during the third quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock worth $47,075,000 after acquiring an additional 356,949 shares during the last quarter. Wellington Management Group LLP grew its position in Inter Parfums by 44.2% during the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after purchasing an additional 99,316 shares during the last quarter. Annex Advisory Services LLC increased its stake in Inter Parfums by 36.5% in the fourth quarter. Annex Advisory Services LLC now owns 118,390 shares of the company’s stock valued at $15,569,000 after purchasing an additional 31,654 shares during the period. Barclays PLC raised its holdings in shares of Inter Parfums by 293.0% in the third quarter. Barclays PLC now owns 34,689 shares of the company’s stock valued at $4,492,000 after buying an additional 25,862 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Inter Parfums by 541.7% during the second quarter. Squarepoint Ops LLC now owns 29,056 shares of the company’s stock worth $3,371,000 after buying an additional 24,528 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

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.