BWS Financial Reiterates Buy Rating for Inter Parfums (NASDAQ:IPAR)

BWS Financial reiterated their buy rating on shares of Inter Parfums (NASDAQ:IPAR) in a report issued on Wednesday, Benzinga reports. BWS Financial currently has a $172.00 target price on the stock.

Separately, Piper Sandler raised their price objective on Inter Parfums from $175.00 to $176.00 and gave the company an overweight rating in a report on Wednesday, January 24th.

Inter Parfums Price Performance

Inter Parfums stock opened at $127.88 on Wednesday. The company’s fifty day moving average price is $139.05 and its 200 day moving average price is $135.51. Inter Parfums has a 1 year low of $120.71 and a 1 year high of $161.17. The stock has a market capitalization of $4.09 billion, a P/E ratio of 26.92 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58.

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

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.35%. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s dividend payout ratio (DPR) is presently 63.16%.

Insider Buying and Selling at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $150,420. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 43.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IPAR. Point72 Middle East FZE purchased a new position in shares of Inter Parfums during the 4th quarter worth $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inter Parfums during the 4th quarter worth $27,000. Principal Securities Inc. purchased a new position in shares of Inter Parfums during the 4th quarter worth $30,000. Signaturefd LLC raised its holdings in shares of Inter Parfums by 87.4% during the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in shares of Inter Parfums during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Company Profile

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.