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

DA Davidson reissued their buy rating on shares of Inter Parfums (NASDAQ:IPAR - Free Report) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $192.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Piper Sandler reduced their target price on shares of Inter Parfums from $176.00 to $172.00 and set an overweight rating on the stock in a report on Thursday, April 25th. BWS Financial reissued a buy rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, April 17th.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR traded up $2.11 during mid-day trading on Thursday, reaching $120.59. The stock had a trading volume of 210,234 shares, compared to its average volume of 145,017. The business's 50 day moving average price is $131.38 and its 200 day moving average price is $134.95. Inter Parfums has a 1 year low of $114.71 and a 1 year high of $156.75. The company has a market cap of $3.86 billion, a P/E ratio of 25.39 and a beta of 1.19. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.29). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $323.96 million for the quarter, compared to the consensus estimate of $324.00 million. During the same quarter in the prior year, the company posted $1.68 earnings per share. The firm's revenue was up 3.9% compared to the same quarter last year. Research analysts expect that Inter Parfums will post 5.15 EPS for the current fiscal year.

Inter Parfums Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Friday, June 14th. Inter Parfums's payout ratio is currently 63.16%.

Institutional Investors Weigh In On Inter Parfums

A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its position in Inter Parfums by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 11,393 shares of the company's stock valued at $1,641,000 after acquiring an additional 81 shares during the last quarter. Comerica Bank increased its stake in Inter Parfums by 0.7% in the 4th quarter. Comerica Bank now owns 11,360 shares of the company's stock worth $1,636,000 after buying an additional 83 shares during the period. Teacher Retirement System of Texas lifted its holdings in Inter Parfums by 0.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company's stock valued at $1,721,000 after buying an additional 100 shares in the last quarter. Signaturefd LLC lifted its holdings in Inter Parfums by 87.4% during the 4th quarter. Signaturefd LLC now owns 223 shares of the company's stock valued at $32,000 after buying an additional 104 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Inter Parfums by 4.9% in the 4th quarter. Fifth Third Bancorp now owns 2,567 shares of the company's stock valued at $370,000 after buying an additional 120 shares during the period. 55.57% of the stock is owned by institutional investors.

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.