Bank of America Corp DE Makes New Investment in Interparfums, Inc. $IPAR

Bank of America Corp DE bought a new stake in shares of Interparfums, Inc. (NASDAQ:IPAR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 279,994 shares of the company's stock, valued at approximately $31,320,000. Bank of America Corp DE owned approximately 0.87% of Interparfums at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Interparfums in the 2nd quarter valued at approximately $326,252,000. First Trust Advisors LP lifted its holdings in Interparfums by 19.3% in the 1st quarter. First Trust Advisors LP now owns 879,005 shares of the company's stock worth $79,849,000 after purchasing an additional 142,223 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Interparfums by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 796,189 shares of the company's stock worth $72,326,000 after purchasing an additional 20,146 shares during the period. Royce & Associates LP boosted its position in Interparfums by 42.0% during the fourth quarter. Royce & Associates LP now owns 683,201 shares of the company's stock worth $57,956,000 after purchasing an additional 202,207 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Interparfums during the second quarter valued at approximately $35,603,000. Institutional investors and hedge funds own 55.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Interparfums from $141.00 to $151.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. BWS Financial lowered shares of Interparfums from a "neutral" rating to a "sell" rating and set a $85.00 target price for the company. in a research report on Monday, August 17th. The Goldman Sachs Group cut shares of Interparfums from a "buy" rating to a "neutral" rating and upped their price target for the company from $110.00 to $129.00 in a report on Monday, August 10th. Weiss Ratings raised Interparfums from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 8th. Finally, TD Cowen lowered Interparfums from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $110.00 to $120.00 in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $123.29.

Interparfums Stock Performance

NASDAQ IPAR opened at $118.29 on Wednesday. The company's fifty day moving average is $118.13 and its two-hundred day moving average is $104.10. Interparfums, Inc. has a 52-week low of $77.21 and a 52-week high of $129.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.31 and a quick ratio of 2.00. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 22.62 and a beta of 1.12.

Interparfums (NASDAQ:IPAR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Interparfums had a net margin of 11.17% and a return on equity of 15.21%. The business had revenue of $341.04 million during the quarter, compared to analysts' expectations of $341.00 million. During the same quarter last year, the company earned $0.99 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. Interparfums has set its FY 2026 guidance at 4.850-4.850 EPS. Equities research analysts forecast that Interparfums, Inc. will post 4.85 EPS for the current year.

Insider Transactions at Interparfums

In other news, Director Veronique Gabai-Pinsky sold 900 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $116.86, for a total value of $105,174.00. Following the completion of the transaction, the director owned 900 shares in the company, valued at approximately $105,174. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 43.60% of the stock is owned by company insiders.

About Interparfums

Inter Parfums, Inc NASDAQ: IPAR develops, manufactures and distributes prestige fragrances and fragrance-related products. Its offerings include perfumes, eau de toilette, body care products and other beauty items marketed under a portfolio of internationally recognized designer and luxury brands.

The company operates through European and United States-based activities and typically works under license agreements with fashion houses, luxury-goods companies and other brand owners. Its portfolio has included brands such as Montblanc, Jimmy Choo, Coach, Kate Spade, Karl Lagerfeld, Oscar de la Renta, Rochas, Boucheron and Van Cleef & Arpels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.