Inter Parfums (NASDAQ:IPAR) Posts Quarterly Earnings Results

Inter Parfums (NASDAQ:IPAR) issued its earnings results on Wednesday. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10, Briefing.com reports. The firm had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.66 earnings per share. Inter Parfums updated its FY24 guidance to $5.15 EPS.

Inter Parfums Trading Down 1.7 %

IPAR traded down $2.18 during midday trading on Thursday, reaching $125.88. 300,954 shares of the company’s stock traded hands, compared to its average volume of 144,367. The firm has a fifty day moving average of $122.33 and a two-hundred day moving average of $122.41. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 29.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $156.75.

Analysts Set New Price Targets

IPAR has been the topic of several research reports. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. DA Davidson restated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research report on Tuesday, October 22nd. Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Friday, July 12th. Piper Sandler restated an “overweight” rating and set a $151.00 target price (up from $150.00) on shares of Inter Parfums in a report on Tuesday, July 23rd. Finally, BWS Financial restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Inter Parfums currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Insider Transactions at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 43.90% 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.