Canaccord Genuity Group Forecasts Strong Price Appreciation for Interparfums (NASDAQ:IPAR) Stock

Key Points

• Canaccord Genuity raised its price target on Interparfums from $151 to $154 and maintained a Buy rating, implying 13.52% potential upside from the then-current share price.
• Analyst views overall were mixed: the consensus rating was Hold, with an average price target of $123.71; two analysts rated the stock Buy, five Hold, and one Sell.
• Interparfums reported quarterly EPS of $2.13, beating the $1.81 consensus estimate, while revenue of $429.51 million was slightly below expectations.

Interparfums (NASDAQ:IPAR - Get Free Report) had its price objective lifted by Canaccord Genuity Group from $151.00 to $154.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 13.52% from the stock's current price.

A number of other equities research analysts have also weighed in on IPAR. Berenberg Bank lowered shares of Interparfums from a "buy" rating to a "hold" rating and set a $130.00 price objective on the stock. in a report on Friday, August 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Interparfums in a report on Friday, October 2nd. BWS Financial cut shares of Interparfums from a "neutral" rating to a "sell" rating and set a $85.00 target price for the company. in a research note on Monday, August 17th. The Goldman Sachs Group cut shares of Interparfums from a "buy" rating to a "neutral" rating and boosted their target price for the company from $110.00 to $129.00 in a research note on Monday, August 10th. Finally, Jefferies Financial Group increased their price target on shares of Interparfums from $115.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Interparfums currently has a consensus rating of "Hold" and an average price target of $123.71.

Interparfums Stock Up 0.3%

Shares of Interparfums stock traded up $0.38 on Friday, reaching $135.66. The stock had a trading volume of 129,441 shares, compared to its average volume of 258,712. The company has a 50 day moving average price of $115.09 and a 200 day moving average price of $105.20. The company has a quick ratio of 2.00, a current ratio of 3.31 and a debt-to-equity ratio of 0.09. Interparfums has a 1 year low of $77.21 and a 1 year high of $136.00. The stock has a market capitalization of $4.34 billion, a P/E ratio of 25.57 and a beta of 1.08.

Interparfums (NASDAQ:IPAR - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $1.81 by $0.32. The company had revenue of $429.51 million during the quarter, compared to analysts' expectations of $430.00 million. Interparfums had a net margin of 11.33% and a return on equity of 15.44%. Interparfums's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. As a group, equities research analysts forecast that Interparfums will post 4.85 EPS for the current year.

Insider Transactions at Interparfums

In other Interparfums news, Director Veronique Gabai-Pinsky sold 900 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $116.86, for a total value of $105,174.00. Following the sale, the director directly owned 900 shares of the company's stock, valued at approximately $105,174. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 43.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IPAR. Maryland State Retirement & Pension System lifted its stake in shares of Interparfums by 53.7% in the third quarter. Maryland State Retirement & Pension System now owns 4,101 shares of the company's stock worth $455,000 after buying an additional 1,433 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Interparfums by 7.7% during the third quarter. Illinois Municipal Retirement Fund now owns 9,767 shares of the company's stock worth $1,084,000 after acquiring an additional 698 shares during the last quarter. Bahl & Gaynor LLC grew its stake in Interparfums by 3.1% during the 3rd quarter. Bahl & Gaynor LLC now owns 446,199 shares of the company's stock valued at $49,510,000 after acquiring an additional 13,451 shares in the last quarter. Keybank National Association OH grew its stake in Interparfums by 27.8% during the 3rd quarter. Keybank National Association OH now owns 5,013 shares of the company's stock valued at $556,000 after acquiring an additional 1,091 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its stake in Interparfums by 5.4% during the 3rd quarter. Hohimer Wealth Management LLC now owns 2,420 shares of the company's stock valued at $269,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 55.57% of the company's stock.

About Interparfums

Interparfums, Inc NASDAQ: IPAR develops, manufactures and distributes prestige fragrances and related beauty products. The company operates primarily through licensing agreements with fashion, luxury and lifestyle brands, creating perfumes, colognes, body products and other fragrance-related offerings for men and women.

Its portfolio has included internationally recognized names such as Montblanc, Jimmy Choo, Coach, Kate Spade New York, Rochas, Boucheron, Van Cleef & Arpels, Oscar de la Renta and Karl Lagerfeld, although brand relationships and licensing arrangements may change over time.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.