Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Down 6.9% in September

Inter Parfums, Inc. (NASDAQ:IPAR) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 665,500 shares, a drop of 6.9% from the September 15th total of 714,500 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 148,700 shares, the days-to-cover ratio is presently 4.5 days.

Inter Parfums Trading Up 0.7 %

NASDAQ:IPAR traded up $0.79 on Wednesday, reaching $119.04. 34,817 shares of the stock traded hands, compared to its average volume of 143,898. 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 has a 1-year low of $108.39 and a 1-year high of $156.75. The company’s 50 day moving average is $123.75 and its 200-day moving average is $123.15. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 27.59 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $342.00 million during the quarter, compared to analysts’ expectations of $342.00 million. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. Inter Parfums’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 earnings per share. Equities research analysts anticipate that Inter Parfums will post 5.15 EPS for the current fiscal year.

Insider Activity at Inter Parfums

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Inter Parfums by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock worth $288,718,000 after purchasing an additional 30,316 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Inter Parfums by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock worth $85,384,000 after buying an additional 4,862 shares during the period. American Century Companies Inc. increased its stake in shares of Inter Parfums by 50.1% in the 2nd quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock valued at $36,846,000 after acquiring an additional 106,044 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in shares of Inter Parfums by 0.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 253,443 shares of the company’s stock valued at $29,407,000 after acquiring an additional 1,023 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Inter Parfums by 0.6% during the second quarter. William Blair Investment Management LLC now owns 234,527 shares of the company’s stock worth $27,212,000 after acquiring an additional 1,390 shares in the last quarter. 55.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IPAR has been the subject of a number of recent research reports. Jefferies Financial Group raised Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Friday, July 12th. Piper Sandler reiterated an “overweight” rating and set a $151.00 target price (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. BWS Financial reiterated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Thursday, August 8th. Finally, DA Davidson restated a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.50.

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.