Analysts Set Inter Parfums, Inc. (NASDAQ:IPAR) Target Price at $73.50

Inter Parfums, Inc. (NASDAQ:IPAR) has been given an average recommendation of “Hold” by the eight analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $73.50.

A number of equities research analysts have weighed in on IPAR shares. Zacks Investment Research upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Tuesday, July 30th. BidaskClub cut shares of Inter Parfums from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. DA Davidson upgraded shares of Inter Parfums from a “neutral” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Monday, June 10th. Finally, ValuEngine cut shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

In other Inter Parfums news, CEO Jean Madar sold 1,623 shares of Inter Parfums stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $67.01, for a total transaction of $108,757.23. Following the completion of the sale, the chief executive officer now directly owns 77,007 shares in the company, valued at $5,160,239.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 58,946 shares of company stock valued at $3,959,128. Company insiders own 44.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in IPAR. Norges Bank acquired a new position in Inter Parfums during the 4th quarter worth approximately $9,528,000. Marshall Wace LLP purchased a new stake in Inter Parfums in the 1st quarter valued at $5,917,000. Acadian Asset Management LLC raised its position in Inter Parfums by 39.0% in the 1st quarter. Acadian Asset Management LLC now owns 207,142 shares of the company’s stock valued at $15,712,000 after purchasing an additional 58,132 shares during the last quarter. Granite Investment Partners LLC raised its position in Inter Parfums by 14.1% in the 1st quarter. Granite Investment Partners LLC now owns 304,011 shares of the company’s stock valued at $23,065,000 after purchasing an additional 37,660 shares during the last quarter. Finally, Millennium Management LLC raised its position in Inter Parfums by 862.5% in the 4th quarter. Millennium Management LLC now owns 38,789 shares of the company’s stock valued at $2,543,000 after purchasing an additional 34,759 shares during the last quarter. Institutional investors and hedge funds own 54.56% of the company’s stock.

IPAR stock traded up $1.43 during trading on Friday, reaching $66.69. 1,111 shares of the stock were exchanged, compared to its average volume of 93,237. The company has a quick ratio of 2.20, a current ratio of 3.10 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $66.42. Inter Parfums has a 1 year low of $54.22 and a 1 year high of $80.99. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 39.00, a price-to-earnings-growth ratio of 2.95 and a beta of 0.92.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Monday, August 5th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Inter Parfums had a net margin of 8.32% and a return on equity of 9.69%. The company had revenue of $166.20 million for the quarter, compared to the consensus estimate of $166.20 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Inter Parfums’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts expect that Inter Parfums will post 1.89 EPS for the current fiscal year.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.

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Analyst Recommendations for Inter Parfums (NASDAQ:IPAR)

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