Vest Financial LLC Makes New Investment in Inter Parfums, Inc. (NASDAQ:IPAR)

Vest Financial LLC acquired a new position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,098 shares of the company's stock, valued at approximately $2,858,000. Vest Financial LLC owned about 0.08% of Inter Parfums at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westwood Holdings Group Inc. bought a new position in Inter Parfums during the 4th quarter worth about $46,649,000. Raymond James Financial Inc. purchased a new position in Inter Parfums during the 4th quarter worth approximately $39,070,000. Norges Bank purchased a new stake in Inter Parfums in the fourth quarter valued at $32,095,000. Victory Capital Management Inc. grew its holdings in Inter Parfums by 55.0% during the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company's stock worth $74,125,000 after acquiring an additional 200,079 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Inter Parfums by 10.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company's stock valued at $147,913,000 after buying an additional 108,321 shares in the last quarter. Institutional investors own 55.57% of the company's stock.

Insiders Place Their Bets

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $122.15, for a total value of $183,225.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 43.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IPAR shares. BWS Financial reaffirmed a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a report on Wednesday, May 7th. Piper Sandler restated an "overweight" rating and issued a $138.00 price objective (down from $169.00) on shares of Inter Parfums in a report on Thursday, April 24th. DA Davidson reaffirmed a "buy" rating and set a $170.00 price objective on shares of Inter Parfums in a research report on Tuesday, March 25th. Finally, Canaccord Genuity Group upped their price target on Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $157.60.

Inter Parfums Price Performance

Shares of IPAR stock traded up $0.99 during midday trading on Tuesday, reaching $139.52. 124,569 shares of the company traded hands, compared to its average volume of 189,242. 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 cap of $4.48 billion, a PE ratio of 29.94 and a beta of 1.39. Inter Parfums, Inc. has a 1-year low of $97.65 and a 1-year high of $148.15. The firm's 50 day simple moving average is $118.65 and its two-hundred day simple moving average is $127.84.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.19. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $339.00 million for the quarter, compared to analyst estimates of $329.21 million. During the same period in the previous year, the company posted $1.27 EPS. The company's revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that Inter Parfums, Inc. will post 5.14 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.