Piper Sandler Cuts Inter Parfums (NASDAQ:IPAR) Price Target to $155.00

Inter Parfums (NASDAQ:IPAR) had its target price trimmed by Piper Sandler from $158.00 to $155.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on IPAR. DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a report on Tuesday, November 12th. BWS Financial reissued a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Monday, November 11th. Finally, StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Inter Parfums presently has an average rating of “Moderate Buy” and a consensus target price of $157.50.

Inter Parfums Trading Down 4.6 %

IPAR opened at $124.65 on Wednesday. The firm’s 50 day moving average is $122.71 and its 200-day moving average is $122.62. The firm has a market capitalization of $3.99 billion, a P/E ratio of 26.75 and a beta of 1.16. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $156.75. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The firm had revenue of $425.00 million during the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Inter Parfums’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.66 EPS. Analysts expect that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 43.90% of the stock is currently owned by company insiders.

Institutional Trading of Inter Parfums

Several large investors have recently added to or reduced their stakes in IPAR. CWM LLC grew its holdings in shares of Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after buying an additional 88 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Inter Parfums by 83.4% in the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after purchasing an additional 296 shares during the period. Mendota Financial Group LLC purchased a new stake in shares of Inter Parfums in the second quarter worth approximately $89,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Inter Parfums during the third quarter worth approximately $104,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Inter Parfums during the third quarter valued at approximately $209,000. 55.57% of the stock is owned by institutional investors and hedge funds.

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.