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

Inter Parfums, Inc. (NASDAQ:IPAR) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 683,000 shares, a growth of 14.1% from the October 15th total of 598,400 shares. Based on an average daily volume of 142,100 shares, the short-interest ratio is presently 4.8 days. Currently, 3.8% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IPAR shares. Piper Sandler decreased their target price on shares of Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. DA Davidson restated a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a research note on Tuesday, November 12th. BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, November 11th. Finally, StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. One research 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 has an average rating of “Moderate Buy” and an average target price of $157.50.

Inter Parfums Price Performance

NASDAQ IPAR traded down $0.51 on Monday, hitting $124.14. The company had a trading volume of 5,761 shares, compared to its average volume of 145,191. The company’s fifty day moving average price is $122.71 and its 200-day moving average price is $122.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The company has a market capitalization of $3.98 billion, a PE ratio of 26.75 and a beta of 1.16. Inter Parfums has a 12-month low of $108.39 and a 12-month high of $156.75.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $425.00 million during the quarter, compared to analysts’ expectations of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. As a group, analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

Institutional Trading of Inter Parfums

A number of hedge funds and other institutional investors have recently bought and sold shares of IPAR. Geode Capital Management LLC raised its position in shares of Inter Parfums by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after acquiring an additional 5,056 shares in the last quarter. Barclays PLC lifted its holdings in shares of Inter Parfums by 293.0% in the 3rd quarter. Barclays PLC now owns 34,689 shares of the company’s stock valued at $4,492,000 after purchasing an additional 25,862 shares during the last quarter. MML Investors Services LLC raised its position in Inter Parfums by 6.7% in the 3rd quarter. MML Investors Services LLC now owns 9,383 shares of the company’s stock valued at $1,215,000 after purchasing an additional 590 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Inter Parfums in the third quarter valued at about $233,000. Finally, Wellington Management Group LLP grew its stake in shares of Inter Parfums by 44.2% in the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock valued at $41,934,000 after purchasing an additional 99,316 shares during the last quarter. 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.