Loomis Sayles & Co. L P Reduces Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Loomis Sayles & Co. L P reduced its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 318,142 shares of the company’s stock after selling 7,364 shares during the period. Loomis Sayles & Co. L P owned approximately 0.99% of Inter Parfums worth $41,193,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IPAR. CWM LLC grew its stake in Inter Parfums by 44.4% during the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. raised its holdings in Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after acquiring an additional 296 shares in the last quarter. Mendota Financial Group LLC bought a new position in Inter Parfums during the 2nd quarter valued at $89,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Inter Parfums in the 3rd quarter valued at about $209,000. Finally, Choreo LLC bought a new stake in Inter Parfums in the second quarter valued at about $213,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $138.39 on Tuesday. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $123.92 and its two-hundred day moving average is $122.97. The firm has a market capitalization of $4.43 billion, a P/E ratio of 29.70 and a beta of 1.16. Inter Parfums, Inc. has a 52 week low of $108.39 and a 52 week high of $156.75.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm had revenue of $425.00 million for the quarter, compared to analysts’ expectations of $425.00 million. During the same period last year, the firm earned $1.66 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. Analysts anticipate that Inter Parfums, Inc. will post 5.15 earnings per share 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.