Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Up 14.1% in October

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. Approximately 3.8% of the company’s shares are short sold. Based on an average daily volume of 142,100 shares, the days-to-cover ratio is presently 4.8 days.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IPAR. DA Davidson reiterated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a report on Tuesday, November 12th. StockNews.com raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. BWS Financial restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, November 11th. Finally, Piper Sandler cut their price target on Inter Parfums from $158.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. One equities research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.50.

Inter Parfums Stock Up 0.3 %

Shares of IPAR traded up $0.40 during midday trading on Monday, hitting $125.05. 7,366 shares of the company’s stock traded hands, compared to its average volume of 145,198. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $156.75. The firm’s fifty day moving average is $122.71 and its 200-day moving average is $122.67. 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 $4.01 billion, a price-to-earnings ratio of 26.75 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, topping 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 business had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. During the same quarter last year, the company earned $1.66 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Inter Parfums will post 5.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. 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 raised its stake in shares of Inter Parfums by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock worth $85,384,000 after purchasing an additional 4,862 shares during the last quarter. State Street Corp lifted 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 worth $87,561,000 after purchasing an additional 2,255 shares during the period. Royce & Associates LP boosted its position in Inter Parfums by 0.7% in 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 increased its holdings in Inter Parfums by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after buying an additional 5,056 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

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.