Eagle Asset Management Inc. Reduces Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Eagle Asset Management Inc. lowered its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,359 shares of the company’s stock after selling 14,733 shares during the quarter. Eagle Asset Management Inc.’s holdings in Inter Parfums were worth $23,384,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC lifted its holdings in Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. lifted its holdings 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 in the last quarter. Mendota Financial Group LLC purchased a new position in Inter Parfums during the second quarter valued at approximately $89,000. Crossmark Global Holdings Inc. purchased a new position in Inter Parfums during the third quarter valued at approximately $209,000. Finally, Choreo LLC purchased a new position in Inter Parfums during the second quarter valued at approximately $213,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Trading Up 2.6 %

Shares of IPAR opened at $134.07 on Friday. The company’s fifty day moving average is $123.59 and its 200 day moving average is $122.84. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $156.75. The stock has a market capitalization of $4.29 billion, a PE ratio of 28.77 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share 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 company had revenue of $425.00 million for the quarter, compared to analysts’ expectations of $425.00 million. During the same quarter in the previous year, the business posted $1.66 earnings per share. Inter Parfums’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts expect that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.