Short Interest in Inter Parfums, Inc. (NASDAQ:IPAR) Declines By 15.1%

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 769,000 shares, a drop of 15.1% from the February 28th total of 906,300 shares. Based on an average daily volume of 202,700 shares, the days-to-cover ratio is currently 3.8 days. Approximately 4.3% of the shares of the company are short sold.

Inter Parfums Stock Down 0.1 %

IPAR stock traded down $0.17 during midday trading on Wednesday, reaching $113.74. The company had a trading volume of 125,955 shares, compared to its average volume of 164,046. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $148.15. The company has a 50 day moving average of $132.94 and a two-hundred day moving average of $129.97. The company has a market capitalization of $3.65 billion, a P/E ratio of 24.41 and a beta of 1.18.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. On average, equities research analysts expect that Inter Parfums will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio (DPR) is 62.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IPAR. Piper Sandler boosted their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. DA Davidson reiterated a “buy” rating and set a $170.00 target price on shares of Inter Parfums in a report on Tuesday, March 25th. Canaccord Genuity Group lifted their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.80.

Hedge Funds Weigh In On Inter Parfums

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Inter Parfums by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 190,331 shares of the company’s stock worth $24,644,000 after buying an additional 1,129 shares during the period. FMR LLC raised its stake in Inter Parfums by 13.3% during the 3rd quarter. FMR LLC now owns 3,365 shares of the company’s stock valued at $436,000 after purchasing an additional 395 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Inter Parfums by 22.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,960 shares of the company’s stock valued at $1,031,000 after purchasing an additional 1,443 shares during the period. Edgestream Partners L.P. acquired a new stake in Inter Parfums in the 3rd quarter worth $660,000. Finally, Benjamin Edwards Inc. increased its holdings in shares of Inter Parfums by 20.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 3,166 shares of the company’s stock worth $410,000 after purchasing an additional 540 shares during the period. 55.57% of the stock is currently owned by institutional investors.

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.