Laurus Investment Counsel Inc. Buys Shares of 8,670 Inter Parfums, Inc. (NASDAQ:IPAR)

Laurus Investment Counsel Inc. purchased a new position in Inter Parfums, Inc. (NASDAQ:IPAR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,670 shares of the company’s stock, valued at approximately $1,140,000.

Other large investors also recently modified their holdings of the company. WCM Investment Management LLC increased its holdings in Inter Parfums by 2.9% during the 3rd quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock worth $24,835,000 after acquiring an additional 5,482 shares during the period. Geode Capital Management LLC grew 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 valued at $56,481,000 after purchasing an additional 5,056 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Inter Parfums by 50.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock valued at $2,982,000 after purchasing an additional 7,771 shares in the last quarter. US Bancorp DE increased its holdings in shares of Inter Parfums by 12.2% in the third quarter. US Bancorp DE now owns 6,872 shares of the company’s stock worth $890,000 after purchasing an additional 746 shares during the period. Finally, Annex Advisory Services LLC raised its position in shares of Inter Parfums by 32.4% in the third quarter. Annex Advisory Services LLC now owns 86,736 shares of the company’s stock worth $11,231,000 after buying an additional 21,211 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IPAR has been the subject of several recent analyst reports. BWS Financial restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, January 27th. DA Davidson reissued a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a report on Thursday, January 23rd. Canaccord Genuity Group initiated coverage on shares of Inter Parfums in a research report on Thursday, January 16th. They issued a “buy” rating and a $158.00 price objective on the stock. Finally, Piper Sandler lifted their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Inter Parfums currently has an average rating of “Moderate Buy” and a consensus price target of $159.40.

Insider Buying and Selling

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 43.90% of the stock is owned by corporate insiders.

Inter Parfums Price Performance

IPAR opened at $141.02 on Friday. 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 stock has a market capitalization of $4.52 billion, a P/E ratio of 30.26 and a beta of 1.20. The stock has a 50-day moving average price of $135.49 and a 200-day moving average price of $129.01. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $156.75.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. The business had revenue of $425.00 million during the quarter, compared to analyst estimates 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 for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 earnings per share. Equities analysts predict that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums 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.