Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Down 15.1% in March

Inter Parfums, Inc. (NASDAQ:IPAR) was the target of a significant drop in short interest during 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. Approximately 4.3% of the shares of the stock are short sold. Based on an average trading volume of 202,700 shares, the short-interest ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

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

Inter Parfums Stock Performance

Shares of IPAR opened at $113.87 on Tuesday. The company has a 50-day simple moving average of $132.94 and a two-hundred day simple moving average of $129.97. 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 has a market capitalization of $3.66 billion, a PE ratio of 24.44 and a beta of 1.18. Inter Parfums has a one year low of $108.39 and a one year high of $148.15.

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

Inter Parfums Increases Dividend

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

Institutional Investors Weigh In On Inter Parfums

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after purchasing an additional 81 shares during the last quarter. Coppell Advisory Solutions LLC increased its position in Inter Parfums by 210.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company’s stock valued at $67,000 after buying an additional 347 shares in the last quarter. SRH Advisors LLC raised its stake in Inter Parfums by 791.7% during the fourth quarter. SRH Advisors LLC now owns 535 shares of the company’s stock valued at $70,000 after buying an additional 475 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Inter Parfums by 100.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock worth $105,000 after acquiring an additional 400 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after acquiring an additional 167 shares during the last quarter. 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.