Laurus Investment Counsel Inc. Takes Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Laurus Investment Counsel Inc. bought a new position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,670 shares of the company’s stock, valued at approximately $1,140,000.

Other large investors also recently modified their holdings of the company. WCM Investment Management LLC lifted its stake in shares of Inter Parfums by 2.9% in the third quarter. WCM Investment Management LLC now owns 193,660 shares of the company’s stock valued at $24,835,000 after buying an additional 5,482 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 5,056 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Inter Parfums by 50.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company’s stock valued at $2,982,000 after acquiring an additional 7,771 shares in the last quarter. US Bancorp DE boosted its stake in Inter Parfums by 12.2% during the 3rd quarter. US Bancorp DE now owns 6,872 shares of the company’s stock valued at $890,000 after purchasing an additional 746 shares during the last quarter. Finally, Annex Advisory Services LLC increased its holdings in Inter Parfums by 32.4% during the 3rd quarter. Annex Advisory Services LLC now owns 86,736 shares of the company’s stock worth $11,231,000 after purchasing an additional 21,211 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Stock Down 1.6 %

Shares of NASDAQ:IPAR opened at $141.02 on Friday. Inter Parfums, Inc. has a 1 year low of $108.39 and a 1 year high of $156.75. The company has a market capitalization of $4.52 billion, a PE ratio of 30.26 and a beta of 1.20. The business has a fifty day moving average price of $135.49 and a two-hundred day moving average price of $129.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $425.00 million during the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 earnings per share. Analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Piper Sandler lifted their target price on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a report on Thursday, January 23rd. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, January 27th. Finally, Canaccord Genuity Group initiated coverage on shares of Inter Parfums in a research report on Thursday, January 16th. They set a “buy” rating and a $158.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Inter Parfums currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.40.

Insider Buying and Selling

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 43.90% of the stock is currently owned by insiders.

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.