Piper Sandler Lowers Inter Parfums (NASDAQ:IPAR) Price Target to $172.00

Inter Parfums (NASDAQ:IPAR) had its target price dropped by analysts at Piper Sandler from $176.00 to $172.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 31.78% from the company’s previous close.

Separately, BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, April 17th.

Inter Parfums Stock Down 0.5 %

Shares of NASDAQ IPAR opened at $130.52 on Thursday. Inter Parfums has a 12-month low of $120.71 and a 12-month high of $158.13. The firm’s 50-day simple moving average is $138.24 and its 200 day simple moving average is $135.55. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 27.48 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The company had revenue of $328.74 million for the quarter, compared to analyst estimates of $329.00 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. Inter Parfums’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts expect that Inter Parfums will post 5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gilbert Harrison sold 250 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 43.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of Inter Parfums by 94.4% during the third quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock worth $37,136,000 after purchasing an additional 134,243 shares during the period. William Blair Investment Management LLC grew its position in shares of Inter Parfums by 10.8% during the 3rd quarter. William Blair Investment Management LLC now owns 243,675 shares of the company’s stock worth $32,735,000 after buying an additional 23,838 shares during the period. Norges Bank bought a new stake in shares of Inter Parfums in the 4th quarter valued at about $32,493,000. Lord Abbett & CO. LLC raised its position in shares of Inter Parfums by 1.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 202,451 shares of the company’s stock valued at $27,197,000 after acquiring an additional 3,774 shares during the period. Finally, First Trust Advisors LP boosted its stake in Inter Parfums by 43.0% during the 4th quarter. First Trust Advisors LP now owns 201,643 shares of the company’s stock worth $29,039,000 after acquiring an additional 60,606 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

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.