DA Davidson Reiterates Buy Rating for Inter Parfums (NASDAQ:IPAR)

DA Davidson reiterated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a report issued on Friday, Benzinga reports. The firm currently has a $192.00 price objective on the stock. DA Davidson also issued estimates for Inter Parfums’ Q1 2024 earnings at $1.55 EPS.

IPAR has been the topic of several other research reports. BWS Financial reiterated a buy rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, April 17th. Piper Sandler dropped their price objective on shares of Inter Parfums from $176.00 to $172.00 and set an overweight rating on the stock in a research note on Thursday.

Inter Parfums Stock Up 1.3 %

Shares of NASDAQ:IPAR opened at $119.56 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58. The company has a market cap of $3.83 billion, a PE ratio of 25.17 and a beta of 1.13. Inter Parfums has a 52 week low of $116.75 and a 52 week high of $158.13. The firm has a 50 day simple moving average of $136.61 and a 200 day simple moving average of $135.31.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $328.74 million during the quarter, compared to analysts’ expectations of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. As a group, research analysts expect that Inter Parfums will post 5.15 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.75 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.51%. Inter Parfums’s dividend payout ratio is 63.16%.

Insider Transactions at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $150,420. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 43.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IPAR. McGlone Suttner Wealth Management Inc. acquired a new position in Inter Parfums in the 4th quarter valued at $27,000. Principal Securities Inc. bought a new stake in Inter Parfums in the 4th quarter valued at $30,000. Signaturefd LLC boosted its holdings in Inter Parfums by 87.4% in the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Johnson Financial Group Inc. bought a new stake in Inter Parfums in the 4th quarter valued at $33,000. Finally, Hexagon Capital Partners LLC boosted its holdings in Inter Parfums by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 121 shares during the period. 55.57% of the stock is currently owned by institutional investors and hedge funds.

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.