Texas Permanent School Fund Corp Raises Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Texas Permanent School Fund Corp increased its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 26.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 19,802 shares of the company’s stock after purchasing an additional 4,128 shares during the period. Texas Permanent School Fund Corp’s holdings in Inter Parfums were worth $2,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in Inter Parfums during the fourth quarter worth about $30,000. Whittier Trust Co. purchased a new position in shares of Inter Parfums during the first quarter valued at approximately $31,000. Johnson Financial Group Inc. acquired a new stake in shares of Inter Parfums during the fourth quarter worth $33,000. Hexagon Capital Partners LLC increased its stake in shares of Inter Parfums by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 121 shares during the last quarter. Finally, CWM LLC raised its stake in Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Insider Buying and Selling at Inter Parfums

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 43.90% of the stock is currently owned by corporate insiders.

Inter Parfums Price Performance

Shares of NASDAQ IPAR opened at $119.13 on Tuesday. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 27.45 and a beta of 1.16. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The business has a 50 day simple moving average of $126.66 and a 200-day simple moving average of $125.40.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The company had revenue of $342.00 million for the quarter, compared to analyst estimates of $342.00 million. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. Inter Parfums’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share. As a group, equities research analysts expect that Inter Parfums, Inc. will post 5.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IPAR shares. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. BWS Financial reissued a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Thursday, August 8th. Jefferies Financial Group raised Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Friday, July 12th. DA Davidson reiterated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a report on Friday. Finally, Piper Sandler reissued an “overweight” rating and set a $151.00 price target (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.50.

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.