Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Down 5.3% in August

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 612,000 shares, a decline of 5.3% from the July 31st total of 646,500 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 148,400 shares, the days-to-cover ratio is presently 4.1 days.

Inter Parfums Trading Down 2.6 %

NASDAQ IPAR opened at $125.54 on Wednesday. The firm has a market capitalization of $4.02 billion, a P/E ratio of 28.93 and a beta of 1.18. The business has a fifty day simple moving average of $126.15 and a 200 day simple moving average of $127.46. Inter Parfums has a 12 month low of $108.39 and a 12 month high of $156.75. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $342.00 million during the quarter, compared to analyst estimates of $342.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. Inter Parfums’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. On average, analysts predict that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position in shares of Inter Parfums by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock valued at $1,641,000 after purchasing an additional 81 shares during the last quarter. Comerica Bank increased its position in shares of Inter Parfums by 0.7% during the 4th quarter. Comerica Bank now owns 11,360 shares of the company’s stock valued at $1,636,000 after purchasing an additional 83 shares during the last quarter. CWM LLC increased its position in shares of 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 during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Inter Parfums by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company’s stock valued at $390,000 after purchasing an additional 92 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Inter Parfums by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock valued at $1,044,000 after purchasing an additional 100 shares during the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IPAR has been the subject of several recent research reports. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. DA Davidson restated a “buy” rating and set a $192.00 price target on shares of Inter Parfums in a report on Wednesday, August 7th. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $151.00 target price (up from $150.00) on shares of Inter Parfums in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Friday, July 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.75.

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.