Inter Parfums, Inc. (NASDAQ:IPAR) Sees Large Growth in Short Interest

Inter Parfums, Inc. (NASDAQ:IPAR) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 549,800 shares, a growth of 16.6% from the June 15th total of 471,500 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average daily volume of 144,300 shares, the days-to-cover ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Friday, July 12th. DA Davidson restated a “buy” rating and set a $192.00 price objective on shares of Inter Parfums in a research report on Thursday, May 9th. Piper Sandler lowered their target price on Inter Parfums from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. BWS Financial reissued a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Thursday, May 9th. Finally, StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a report on Saturday, June 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $163.50.

Institutional Investors Weigh In On Inter Parfums

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Inter Parfums by 2.9% in the third quarter. Public Employees Retirement System of Ohio now owns 77,215 shares of the company’s stock worth $10,373,000 after acquiring an additional 2,170 shares during the last quarter. Vest Financial LLC acquired a new position in Inter Parfums during the 4th quarter worth approximately $243,000. Raymond James Financial Services Advisors Inc. bought a new position in Inter Parfums in the 4th quarter valued at approximately $206,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Inter Parfums in the fourth quarter valued at approximately $27,000. Finally, Fifth Third Bancorp increased its holdings in shares of Inter Parfums by 4.9% during the fourth quarter. Fifth Third Bancorp now owns 2,567 shares of the company’s stock worth $370,000 after buying an additional 120 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR traded down $0.04 during trading on Wednesday, reaching $127.04. 41,996 shares of the company traded hands, compared to its average volume of 144,486. The firm has a market capitalization of $4.07 billion, a PE ratio of 29.28 and a beta of 1.18. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $156.75. The company has a quick ratio of 1.43, a current ratio of 2.75 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $118.09 and its two-hundred day moving average is $130.41.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.29). The firm had revenue of $323.96 million for the quarter, compared to the consensus estimate of $324.00 million. Inter Parfums had a return on equity of 15.85% and a net margin of 10.50%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.68 EPS. As a group, sell-side analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

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.