Interparfums (NASDAQ:IPAR) Given New $123.00 Price Target at Canaccord Genuity Group

Interparfums (NASDAQ:IPAR) had its target price cut by Canaccord Genuity Group from $168.00 to $123.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on IPAR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interparfums in a research note on Wednesday, October 8th. Jefferies Financial Group dropped their target price on Interparfums from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, October 28th. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Interparfums in a research note on Wednesday, October 22nd. Finally, Sanford C. Bernstein raised Interparfums to a “strong-buy” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Interparfums presently has a consensus rating of “Buy” and an average price target of $145.60.

Interparfums Trading Down 0.4%

IPAR traded down $0.36 on Friday, reaching $87.38. 200,030 shares of the company traded hands, compared to its average volume of 243,700. The company has a market cap of $2.80 billion, a P/E ratio of 17.51 and a beta of 1.39. The company has a quick ratio of 1.69, a current ratio of 2.96 and a debt-to-equity ratio of 0.14. Interparfums has a one year low of $86.50 and a one year high of $148.15. The firm has a fifty day simple moving average of $99.49 and a two-hundred day simple moving average of $116.51.

Interparfums (NASDAQ:IPAR) last issued its earnings results on Wednesday, November 5th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.16. The business had revenue of $429.58 million for the quarter, compared to the consensus estimate of $431.78 million. Interparfums had a net margin of 11.03% and a return on equity of 16.45%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 EPS. Interparfums has set its FY 2025 guidance at 5.120-5.120 EPS. As a group, equities research analysts expect that Interparfums will post 5.14 earnings per share for the current year.

Interparfums Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, December 15th. Interparfums’s payout ratio is currently 62.62%.

Hedge Funds Weigh In On Interparfums

A number of hedge funds have recently bought and sold shares of the business. First National Bank of Omaha purchased a new stake in shares of Interparfums in the third quarter valued at approximately $351,000. JPMorgan Chase & Co. raised its position in Interparfums by 27.4% during the third quarter. JPMorgan Chase & Co. now owns 114,625 shares of the company’s stock worth $11,277,000 after acquiring an additional 24,673 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Interparfums by 13.4% during the third quarter. PNC Financial Services Group Inc. now owns 2,532 shares of the company’s stock valued at $249,000 after purchasing an additional 300 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Interparfums by 16.4% in the third quarter. Public Sector Pension Investment Board now owns 71,421 shares of the company’s stock valued at $7,026,000 after purchasing an additional 10,080 shares during the period. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Interparfums by 6.9% during the third quarter. Illinois Municipal Retirement Fund now owns 9,989 shares of the company’s stock worth $983,000 after purchasing an additional 642 shares in the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Interparfums 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.