Truist Financial Corp Has $1.95 Million Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Truist Financial Corp increased its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 5.5% in the 2nd quarter, Holdings Channel reports. The fund owned 16,768 shares of the company’s stock after purchasing an additional 871 shares during the period. Truist Financial Corp’s holdings in Inter Parfums were worth $1,946,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in shares of Inter Parfums in the first quarter worth approximately $31,000. Hexagon Capital Partners LLC increased its stake in Inter Parfums by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 121 shares during the period. CWM LLC lifted its position in Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after buying an additional 88 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in shares of Inter Parfums during the 2nd quarter valued at $89,000. Finally, Benjamin Edwards Inc. grew its holdings in shares of Inter Parfums by 49.2% during the 1st quarter. Benjamin Edwards Inc. now owns 1,562 shares of the company’s stock valued at $219,000 after acquiring an additional 515 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Jefferies Financial Group raised Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research 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. DA Davidson reaffirmed a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a research report on Friday, September 13th. Piper Sandler reissued an “overweight” rating and issued a $151.00 target price (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. Finally, BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Insider Buying and Selling at Inter Parfums

In related 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 transaction of $188,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 43.90% of the company’s stock.

Inter Parfums Stock Up 1.5 %

IPAR opened at $124.13 on Friday. The firm has a market cap of $3.98 billion, a P/E ratio of 28.60 and a beta of 1.15. 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 business has a 50 day moving average price of $124.11 and a 200 day moving average price of $123.63. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75.

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, topping the consensus estimate of $1.05 by $0.09. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The business had revenue of $342.00 million during the quarter, compared to the consensus estimate of $342.00 million. During the same period in the prior year, the firm earned $1.09 EPS. Inter Parfums’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts forecast that Inter Parfums, Inc. will post 5.15 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.