Inter Parfums (NASDAQ:IPAR) Trading 6.6% Higher After Strong Earnings

Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report) rose 6.6% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $117.26 and last traded at $117.66. Approximately 107,126 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 178,102 shares. The stock had previously closed at $110.37.

The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.19. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $339.00 million for the quarter, compared to analysts' expectations of $329.21 million. During the same quarter last year, the firm earned $1.27 earnings per share. The business's revenue was up 4.6% on a year-over-year basis.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.80 dividend. This is a positive change from Inter Parfums's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums's dividend payout ratio (DPR) is 62.87%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IPAR. Canaccord Genuity Group upped their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Piper Sandler restated an "overweight" rating and issued a $138.00 target price (down from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. BWS Financial restated a "buy" rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Monday, March 17th. Finally, DA Davidson reissued a "buy" rating and issued a $170.00 price target on shares of Inter Parfums in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $157.60.

Institutional Investors Weigh In On Inter Parfums

Several large investors have recently modified their holdings of IPAR. Steward Partners Investment Advisory LLC increased its position in shares of Inter Parfums by 36.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,108 shares of the company's stock worth $540,000 after acquiring an additional 1,095 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Inter Parfums by 7.9% in the fourth quarter. Legal & General Group Plc now owns 53,264 shares of the company's stock worth $7,005,000 after purchasing an additional 3,911 shares in the last quarter. Vanguard Group Inc. grew its position in Inter Parfums by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company's stock valued at $269,677,000 after purchasing an additional 20,721 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Inter Parfums by 3.8% during the 4th quarter. Wells Fargo & Company MN now owns 49,109 shares of the company's stock valued at $6,458,000 after buying an additional 1,780 shares during the period. Finally, Annex Advisory Services LLC raised its holdings in shares of Inter Parfums by 36.5% during the fourth quarter. Annex Advisory Services LLC now owns 118,390 shares of the company's stock worth $15,569,000 after acquiring an additional 31,654 shares in the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Stock Up 7.0 %

The stock has a market cap of $3.80 billion, a PE ratio of 25.35 and a beta of 1.33. The business has a 50 day simple moving average of $115.74 and a 200 day simple moving average of $126.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

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.

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