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

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

Analysts Set New Price Targets

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

Inter Parfums Stock Down 0.1 %

Shares of NASDAQ:IPAR opened at $118.08 on Thursday. The company has a 50 day moving average price of $123.45 and a two-hundred day moving average price of $123.12. 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 company has a market capitalization of $3.78 billion, a PE ratio of 27.21 and a beta of 1.15. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $156.75.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results 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 firm had revenue of $342.00 million during the quarter, compared to analysts’ expectations of $342.00 million. During the same period in the previous year, the firm earned $1.09 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Analysts forecast that Inter Parfums will post 5.15 earnings per share for the current year.

Insider Activity

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 43.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Annex Advisory Services LLC raised its holdings in shares of Inter Parfums by 26.9% during the first quarter. Annex Advisory Services LLC now owns 53,111 shares of the company’s stock worth $7,463,000 after acquiring an additional 11,259 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Inter Parfums by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 121 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Inter Parfums by 49.2% during the first quarter. Benjamin Edwards Inc. now owns 1,562 shares of the company’s stock worth $219,000 after buying an additional 515 shares in the last quarter. BNP Paribas Financial Markets raised its position in Inter Parfums by 13.8% in the 1st quarter. BNP Paribas Financial Markets now owns 33,403 shares of the company’s stock valued at $4,693,000 after buying an additional 4,059 shares during the last quarter. Finally, Whittier Trust Co. bought a new stake in Inter Parfums in the 1st quarter valued at approximately $31,000. Institutional investors own 55.57% 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.