Short Interest in Inter Parfums, Inc. (NASDAQ:IPAR) Grows By 14.1%

Inter Parfums, Inc. (NASDAQ:IPAR) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 683,000 shares, an increase 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. Approximately 3.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Inter Parfums

Hedge funds have recently made changes to their positions in the company. UniSuper Management Pty Ltd purchased a new stake in Inter Parfums in the first quarter worth about $638,000. Bessemer Group Inc. lifted its position in shares of Inter Parfums by 6.0% in the 1st quarter. Bessemer Group Inc. now owns 85,990 shares of the company’s stock worth $12,082,000 after purchasing an additional 4,880 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Inter Parfums by 306.7% during the second quarter. Harbor Capital Advisors Inc. now owns 5,478 shares of the company’s stock valued at $636,000 after purchasing an additional 4,131 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Inter Parfums by 119.7% during the first quarter. Janus Henderson Group PLC now owns 19,953 shares of the company’s stock valued at $2,804,000 after buying an additional 10,870 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Inter Parfums in the first quarter worth approximately $601,000. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IPAR shares. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. DA Davidson reiterated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research report on Tuesday, November 12th. BWS Financial reaffirmed a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research note on Monday, November 11th. Finally, Piper Sandler dropped their price objective on shares of Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.50.

Inter Parfums Trading Down 0.4 %

NASDAQ IPAR traded down $0.51 on Monday, hitting $124.14. 5,761 shares of the stock were exchanged, compared to its average volume of 145,191. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $156.75. The firm has a market capitalization of $3.98 billion, a P/E ratio of 26.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. The stock has a fifty day moving average price of $122.71 and a two-hundred day moving average price of $122.67.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The company 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%. Inter Parfums’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.66 EPS. Research analysts forecast that Inter Parfums will post 5.15 EPS for the current fiscal 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.