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

Inter Parfums, Inc. (NASDAQ:IPAR) saw a significant 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 trading volume of 142,100 shares, the short-interest ratio is currently 4.8 days. Approximately 3.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Inter Parfums

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Inter Parfums by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock valued at $288,718,000 after buying an additional 30,316 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Inter Parfums by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock valued at $85,384,000 after buying an additional 4,862 shares during the last quarter. State Street Corp grew its holdings in shares of Inter Parfums by 0.3% during the third quarter. State Street Corp now owns 676,253 shares of the company’s stock valued at $87,561,000 after buying an additional 2,255 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Inter Parfums by 0.7% during the third quarter. Royce & Associates LP now owns 595,175 shares of the company’s stock valued at $77,063,000 after buying an additional 4,345 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Inter Parfums by 1.2% during the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock valued at $56,481,000 after buying an additional 5,056 shares during the last quarter. 55.57% of the stock is owned by institutional investors and hedge funds.

Inter Parfums Stock Performance

Shares of IPAR stock opened at $124.65 on Monday. The business’s fifty day simple moving average is $122.71 and its 200-day simple moving average is $122.67. The company has a market cap of $3.99 billion, a PE ratio of 26.75 and a beta of 1.16. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. 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 results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $425.00 million for the quarter, compared to the consensus estimate of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. Analysts expect that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.