Inter Parfums, Inc. (NASDAQ:IPAR) Sees Large Drop in Short Interest

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 665,500 shares, a decline of 6.9% from the September 15th total of 714,500 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average daily volume of 148,700 shares, the days-to-cover ratio is presently 4.5 days.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 43.90% of the company’s stock.

Institutional Trading of Inter Parfums

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd acquired a new stake in Inter Parfums during the first quarter valued at approximately $638,000. Bessemer Group Inc. boosted its stake in shares of Inter Parfums by 6.0% in the 1st quarter. Bessemer Group Inc. now owns 85,990 shares of the company’s stock valued at $12,082,000 after purchasing an additional 4,880 shares in the last quarter. Annex Advisory Services LLC grew its holdings in shares of Inter Parfums by 26.9% in the 1st quarter. Annex Advisory Services LLC now owns 53,111 shares of the company’s stock worth $7,463,000 after purchasing an additional 11,259 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Inter Parfums during the 1st quarter worth about $1,018,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in Inter Parfums by 306.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,478 shares of the company’s stock valued at $636,000 after purchasing an additional 4,131 shares during the last quarter. Institutional investors own 55.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IPAR shares. StockNews.com raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Friday, July 12th. Piper Sandler reiterated an “overweight” rating and issued a $151.00 price objective (up from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. DA Davidson restated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research note on Friday, September 13th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Inter Parfums Trading Down 0.1 %

Shares of IPAR opened at $118.08 on Thursday. The stock’s 50-day moving average price is $123.45 and its 200 day moving average price is $123.12. The company has a quick ratio of 1.27, a current ratio of 2.58 and a debt-to-equity ratio of 0.12. Inter Parfums has a 12-month low of $108.39 and a 12-month high of $156.75. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 27.21 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The business had revenue of $342.00 million during the quarter, compared to analyst estimates of $342.00 million. During the same period in the prior year, the company posted $1.09 earnings per share. Inter Parfums’s revenue was up 10.7% on a year-over-year basis. As a group, research analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

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.