Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Down 10.1% in October

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

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 43.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inter Parfums

Several hedge funds have recently bought and sold shares of the stock. UniSuper Management Pty Ltd bought a new position in shares of Inter Parfums during the first quarter worth approximately $638,000. Bessemer Group Inc. increased its position in Inter Parfums by 6.0% during the 1st quarter. Bessemer Group Inc. now owns 85,990 shares of the company’s stock worth $12,082,000 after buying an additional 4,880 shares during the period. Empowered Funds LLC acquired a new stake in shares of Inter Parfums during the first quarter worth $1,018,000. Harbor Capital Advisors Inc. boosted its position in shares of Inter Parfums by 306.7% in the second quarter. Harbor Capital Advisors Inc. now owns 5,478 shares of the company’s stock valued at $636,000 after acquiring an additional 4,131 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Inter Parfums in the first quarter valued at about $601,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Inter Parfums Stock Down 2.4 %

IPAR stock opened at $121.07 on Friday. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75. The business’s 50 day simple moving average is $122.35 and its 200 day simple moving average is $122.44. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $3.88 billion, a PE ratio of 28.02 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. As a group, research analysts anticipate that Inter Parfums will post 5.17 EPS for the current year.

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.