Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Up 6.9% in July

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 646,500 shares, an increase of 6.9% from the July 15th total of 604,800 shares. Based on an average daily trading volume, of 151,900 shares, the days-to-cover ratio is currently 4.3 days. Currently, 3.6% of the company’s stock are short sold.

Analyst Ratings Changes

Several equities analysts recently issued reports on IPAR shares. DA Davidson reaffirmed a “buy” rating and issued a $192.00 price objective on shares of Inter Parfums in a research report on Wednesday, August 7th. BWS Financial reiterated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Thursday, August 8th. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Jefferies Financial Group raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Friday, July 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $151.00 price objective (up from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Inter Parfums presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.75.

Inter Parfums Price Performance

Shares of Inter Parfums stock traded down $0.76 on Friday, hitting $127.45. 129,413 shares of the company traded hands, compared to its average volume of 145,717. Inter Parfums has a 52 week low of $108.39 and a 52 week high of $156.75. The business has a 50-day simple moving average of $123.24 and a 200 day simple moving average of $129.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.43 and a current ratio of 2.75. The stock has a market capitalization of $4.08 billion, a P/E ratio of 29.37 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $342.00 million for the quarter, compared to analysts’ expectations of $342.00 million. Inter Parfums had a net margin of 10.50% and a return on equity of 15.85%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. Research analysts expect that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, September 13th. Inter Parfums’s dividend payout ratio is presently 69.12%.

Institutional Trading of Inter Parfums

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in Inter Parfums during the fourth quarter valued at $206,000. Nisa Investment Advisors LLC lifted its holdings in shares of Inter Parfums by 33.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,590 shares of the company’s stock valued at $229,000 after acquiring an additional 400 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Inter Parfums in the fourth quarter worth about $1,296,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Inter Parfums by 24.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,857 shares of the company’s stock worth $699,000 after acquiring an additional 952 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Inter Parfums by 87.4% during the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

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.