First Horizon Advisors Inc. Cuts Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

First Horizon Advisors Inc. trimmed its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 42.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 407 shares of the company’s stock after selling 297 shares during the period. First Horizon Advisors Inc.’s holdings in Inter Parfums were worth $53,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Inter Parfums by 5,393.6% in the third quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock valued at $47,075,000 after acquiring an additional 356,949 shares in the last quarter. American Century Companies Inc. boosted its holdings in Inter Parfums by 50.1% in the 2nd quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock valued at $36,846,000 after purchasing an additional 106,044 shares in the last quarter. F M Investments LLC acquired a new position in Inter Parfums during the 2nd quarter worth approximately $9,328,000. Burney Co. purchased a new position in shares of Inter Parfums during the 1st quarter worth approximately $5,327,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Inter Parfums by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock valued at $288,718,000 after buying an additional 30,316 shares during the period. 55.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IPAR has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Monday, November 11th. DA Davidson reissued a “buy” rating and issued a $163.00 target price on shares of Inter Parfums in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Inter Parfums currently has an average rating of “Moderate Buy” and an average price target of $157.50.

Inter Parfums Stock Up 2.6 %

NASDAQ IPAR opened at $134.07 on Monday. The business has a 50 day moving average price of $123.92 and a two-hundred day moving average price of $122.97. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $156.75. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.29 billion, a PE ratio of 28.77 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The firm had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 EPS. As a group, sell-side analysts predict that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

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.