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

Inter Parfums, Inc. (NASDAQ:IPAR) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 683,000 shares, a growth of 14.1% from the October 15th total of 598,400 shares. Based on an average daily trading volume, of 142,100 shares, the short-interest ratio is currently 4.8 days. Currently, 3.8% of the shares of the company are short sold.

Inter Parfums Price Performance

NASDAQ IPAR traded up $0.40 during mid-day trading on Monday, hitting $125.05. The stock had a trading volume of 7,366 shares, compared to its average volume of 145,198. Inter Parfums has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The firm’s 50 day moving average is $122.71 and its 200 day moving average is $122.67. 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 earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $425.00 million during the quarter, compared to analysts’ expectations of $425.00 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 earnings per share. Equities research analysts forecast that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inter Parfums

Institutional investors and hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of Inter Parfums by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 3,692 shares of the company’s stock valued at $519,000 after buying an additional 255 shares during the period. State Board of Administration of Florida Retirement System raised its position in Inter Parfums by 7.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 5,633 shares of the company’s stock valued at $801,000 after purchasing an additional 390 shares during the period. Vanguard Group Inc. lifted its stake in shares of Inter Parfums by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock valued at $288,718,000 after purchasing an additional 30,316 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Inter Parfums during the 1st quarter worth $474,000. Finally, Cynosure Group LLC purchased a new position in shares of Inter Parfums during the 1st quarter worth $310,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on IPAR. BWS Financial restated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Monday, November 11th. Piper Sandler reduced their target price on Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. DA Davidson reissued a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. One 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.50.

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.