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

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 598,400 shares, a decline of 10.1% from the September 30th total of 665,500 shares. Based on an average daily volume of 137,200 shares, the days-to-cover ratio is presently 4.4 days. Approximately 3.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Inter Parfums

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums 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 SEC, which is available through the SEC website. Insiders own 43.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. bought a new position in Inter Parfums in the 1st quarter worth about $31,000. CWM LLC grew its stake in Inter Parfums by 44.4% in the second quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after purchasing an additional 88 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Inter Parfums by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 121 shares in the last quarter. Blue Trust Inc. increased its holdings in Inter Parfums by 83.4% during the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after purchasing an additional 296 shares during the period. Finally, Mendota Financial Group LLC bought a new stake in Inter Parfums during the 2nd quarter valued at $89,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Trading Up 0.5 %

IPAR opened at $125.00 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.27 and a current ratio of 2.58. The stock’s 50 day moving average price is $122.35 and its 200-day moving average price is $122.44. Inter Parfums has a one year low of $108.39 and a one year high of $156.75. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 28.80 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share (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 company had revenue of $342.00 million during the quarter, compared to analysts’ expectations of $342.00 million. During the same quarter in the previous year, the business earned $1.09 EPS. Inter Parfums’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Inter Parfums will post 5.17 EPS 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.