Raymond James & Associates Sells 13,594 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Raymond James & Associates cut its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,595 shares of the company's stock after selling 13,594 shares during the period. Raymond James & Associates owned approximately 0.35% of Inter Parfums worth $14,579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. lifted its stake in 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 purchasing an additional 296 shares during the last quarter. Creative Planning lifted its stake in Inter Parfums by 36.3% during the third quarter. Creative Planning now owns 3,104 shares of the company's stock valued at $402,000 after purchasing an additional 826 shares during the last quarter. Annex Advisory Services LLC lifted its stake in Inter Parfums by 32.4% during the third quarter. Annex Advisory Services LLC now owns 86,736 shares of the company's stock valued at $11,231,000 after purchasing an additional 21,211 shares during the last quarter. Inspire Investing LLC lifted its stake in Inter Parfums by 3.9% during the third quarter. Inspire Investing LLC now owns 3,208 shares of the company's stock valued at $415,000 after purchasing an additional 120 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Inter Parfums by 44.2% during the third quarter. Handelsbanken Fonder AB now owns 6,200 shares of the company's stock valued at $803,000 after purchasing an additional 1,900 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on IPAR. DA Davidson reissued a "buy" rating and set a $163.00 target price on shares of Inter Parfums in a research note on Tuesday, October 22nd. Piper Sandler reissued an "overweight" rating and set a $151.00 target price (up from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. StockNews.com raised shares of Inter Parfums from a "sell" rating to a "hold" rating in a research note on Wednesday, August 7th. BWS Financial reaffirmed a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group raised shares of Inter Parfums from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Friday, July 12th. 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $156.50.

Inter Parfums Trading Up 2.2 %

Inter Parfums stock traded up $2.71 during midday trading on Monday, reaching $124.41. The stock had a trading volume of 120,932 shares, compared to its average volume of 143,129. The firm's fifty day simple moving average is $122.37 and its two-hundred day simple moving average is $122.47. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 28.67 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. The firm had revenue of $342.00 million during the quarter, compared to analyst estimates of $342.00 million. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. Equities analysts anticipate that Inter Parfums, Inc. will post 5.17 EPS for the current fiscal year.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction on Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 43.90% of the company's stock.

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.