Inter Parfums, Inc. (NASDAQ:IPAR) Sees Significant Increase in Short Interest

Inter Parfums, Inc. (NASDAQ:IPAR) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 714,500 shares, a growth of 15.7% from the August 31st total of 617,500 shares. Based on an average daily trading volume, of 152,300 shares, the days-to-cover ratio is presently 4.7 days. Approximately 4.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IPAR. BWS Financial reissued a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a report on Thursday, August 8th. DA Davidson restated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a report on Friday, September 13th. Jefferies Financial Group raised 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. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler restated 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Inter Parfums Price Performance

Shares of IPAR stock traded up $1.24 during mid-day trading on Monday, reaching $129.48. The company’s stock had a trading volume of 171,876 shares, compared to its average volume of 145,223. The firm’s 50-day moving average is $126.46 and its two-hundred day moving average is $124.29. The company has a market cap of $4.15 billion, a P/E ratio of 29.83 and a beta of 1.16. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.27 and a current ratio of 2.58.

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

Insider Buying and Selling at Inter Parfums

In related 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 value of $188,940.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 43.90% of the stock is currently owned by company insiders.

Institutional Trading of Inter Parfums

A number of hedge funds have recently modified their holdings of the company. Whittier Trust Co. bought a new stake in shares of Inter Parfums in the 1st quarter valued at $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 valued at $33,000 after acquiring an additional 88 shares during the period. 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 valued at $37,000 after acquiring an additional 121 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of Inter Parfums by 57,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $83,000 after acquiring an additional 574 shares in the last quarter. Finally, Mendota Financial Group LLC acquired a new stake in shares of Inter Parfums during the second quarter worth about $89,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

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.