Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Update

Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 683,000 shares, an increase of 14.1% from the October 15th total of 598,400 shares. Based on an average daily trading volume, of 142,100 shares, the days-to-cover ratio is currently 4.8 days. Approximately 3.8% of the shares of the stock are short sold.

Inter Parfums Price Performance

Inter Parfums stock traded up $0.25 during midday trading on Monday, reaching $124.90. The company had a trading volume of 83,779 shares, compared to its average volume of 145,541. 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 fifty day simple moving average is $122.71 and its 200-day simple moving average is $122.67. Inter Parfums has a 12-month low of $108.39 and a 12-month high of $156.75. The company has a market capitalization of $4.00 billion, a P/E ratio of 26.80 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 EPS. As a group, equities analysts anticipate that Inter Parfums will post 5.15 EPS for the current year.

Hedge Funds Weigh In On Inter Parfums

A number of large investors have recently bought and sold shares of the stock. CWM LLC increased its position in shares of Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company's stock worth $33,000 after purchasing an additional 88 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Inter Parfums by 83.4% during the third quarter. Blue Trust Inc. now owns 651 shares of the company's stock valued at $84,000 after acquiring an additional 296 shares during the period. Mendota Financial Group LLC acquired a new stake in shares of Inter Parfums during the second quarter valued at approximately $89,000. Northwest & Ethical Investments L.P. acquired a new position in Inter Parfums in the 3rd quarter valued at approximately $104,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Inter Parfums during the 3rd quarter worth $209,000. Hedge funds and other institutional investors own 55.57% of the company's stock.

Wall Street Analysts Forecast Growth

IPAR has been the subject of a number of research reports. StockNews.com raised Inter Parfums from a "sell" rating to a "hold" rating in a research note on Wednesday, August 7th. BWS Financial restated a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, November 11th. DA Davidson reiterated a "buy" rating and issued a $163.00 price objective on shares of Inter Parfums in a report on Tuesday, November 12th. Finally, Piper Sandler reduced their price objective on Inter Parfums from $158.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, November 13th. One 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 a consensus rating of "Moderate Buy" and a consensus target price 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.