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

Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 763,400 shares, an increase of 6.7% from the November 15th total of 715,700 shares. Based on an average daily volume of 149,100 shares, the short-interest ratio is currently 5.1 days. Currently, 4.2% of the company's stock are sold short.

Insider Activity

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 43.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. CWM LLC increased its holdings in Inter Parfums by 44.4% in the second quarter. CWM LLC now owns 286 shares of the company's stock valued at $33,000 after buying an additional 88 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Inter Parfums by 83.4% in the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company's stock valued at $84,000 after purchasing an additional 296 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new position in Inter Parfums in the 3rd quarter worth about $104,000. Crossmark Global Holdings Inc. purchased a new position in Inter Parfums during the third quarter worth approximately $209,000. Finally, Choreo LLC acquired a new stake in Inter Parfums in the second quarter valued at approximately $213,000. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on IPAR. DA Davidson reiterated a "buy" rating and issued a $163.00 target price on shares of Inter Parfums in a research note on Tuesday, December 3rd. Piper Sandler lifted their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Finally, BWS Financial reissued a "buy" rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Inter Parfums has a consensus rating of "Moderate Buy" and an average target price of $159.75.

Inter Parfums Stock Performance

IPAR traded down $2.78 during trading on Tuesday, reaching $133.41. 159,133 shares of the company's stock were exchanged, compared to its average volume of 144,597. 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 has a 1 year low of $108.39 and a 1 year high of $156.75. The company's fifty day simple moving average is $128.54 and its 200-day simple moving average is $124.88. The stock has a market capitalization of $4.27 billion, a P/E ratio of 28.78 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its earnings results 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. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm had revenue of $425.00 million during the quarter, compared to analysts' expectations of $425.00 million. During the same quarter last year, the company posted $1.66 earnings per share. The firm's revenue was up 15.5% compared to the same quarter last year. As a group, research analysts predict that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

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.