Inter Parfums (NASDAQ:IPAR) Earns “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a report issued on Wednesday, Benzinga reports. They currently have a $192.00 price target on the stock. DA Davidson also issued estimates for Inter Parfums’ Q3 2024 earnings at $1.80 EPS and FY2025 earnings at $5.43 EPS.

IPAR has been the topic of several other research reports. StockNews.com raised Inter Parfums from a sell rating to a hold rating in a research report on Wednesday. Piper Sandler reissued an overweight rating and set a $151.00 target price (up previously from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. BWS Financial reissued a buy rating and set a $172.00 target price on shares of Inter Parfums in a research report on Thursday, May 9th. Finally, Jefferies Financial Group raised Inter Parfums from a hold rating to a buy rating and set a $140.00 target price on the stock in a research report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $163.75.

Inter Parfums Stock Down 2.4 %

Shares of IPAR opened at $130.96 on Wednesday. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 30.18 and a beta of 1.18. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $156.75. The business’s 50 day simple moving average is $122.55 and its 200-day simple moving average is $129.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.75 and a quick ratio of 1.43.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $342.00 million for the quarter, compared to analysts’ expectations of $342.00 million. Inter Parfums had a return on equity of 15.85% and a net margin of 10.50%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. As a group, equities analysts expect that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, September 13th. Inter Parfums’s dividend payout ratio (DPR) is presently 69.12%.

Hedge Funds Weigh In On Inter Parfums

Several hedge funds have recently bought and sold shares of IPAR. Norges Bank bought a new position in Inter Parfums in the 4th quarter valued at $32,493,000. Artisan Partners Limited Partnership bought a new position in Inter Parfums in the 4th quarter valued at $16,226,000. American Century Companies Inc. grew its position in Inter Parfums by 50.1% in the 2nd quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock valued at $36,846,000 after acquiring an additional 106,044 shares during the last quarter. F M Investments LLC bought a new position in shares of Inter Parfums during the 2nd quarter worth $9,328,000. Finally, First Trust Advisors LP grew its position in shares of Inter Parfums by 43.0% during the 4th quarter. First Trust Advisors LP now owns 201,643 shares of the company’s stock worth $29,039,000 after buying an additional 60,606 shares in the last quarter. Institutional investors own 55.57% of the company’s stock.

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.