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

Inter Parfums, Inc. (NASDAQ:IPAR) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 450,900 shares, a decline of 13.4% from the May 15th total of 520,900 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily volume of 150,300 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

IPAR has been the subject of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $192.00 price target on shares of Inter Parfums in a research report on Thursday, May 9th. Piper Sandler reduced their price target on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. BWS Financial restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Thursday, May 9th. Finally, StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research report on Saturday, June 8th.

Inter Parfums Price Performance

Inter Parfums stock traded down $3.16 during midday trading on Friday, hitting $109.63. 172,073 shares of the company’s stock were exchanged, compared to its average volume of 111,320. Inter Parfums has a 52-week low of $109.08 and a 52-week high of $156.75. The stock has a 50-day moving average price of $121.43 and a two-hundred day moving average price of $133.72. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.43 and a current ratio of 2.75. The company has a market cap of $3.51 billion, a P/E ratio of 25.26 and a beta of 1.17.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.29). Inter Parfums had a return on equity of 15.85% and a net margin of 10.50%. The firm had revenue of $323.96 million for the quarter, compared to the consensus estimate of $324.00 million. During the same period last year, the firm earned $1.68 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that Inter Parfums will post 5.15 earnings per share for the current year.

Institutional Investors Weigh In On Inter Parfums

Several hedge funds have recently added to or reduced their stakes in IPAR. McGlone Suttner Wealth Management Inc. bought a new stake in Inter Parfums during the fourth quarter worth about $27,000. Principal Securities Inc. bought a new stake in Inter Parfums during the fourth quarter worth about $30,000. Whittier Trust Co. bought a new stake in shares of Inter Parfums in the 1st quarter valued at about $31,000. Signaturefd LLC lifted its stake in shares of Inter Parfums by 87.4% in the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Inter Parfums in the 4th quarter valued at about $33,000. Institutional investors own 55.57% 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.