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

Texas Permanent School Fund Corp boosted its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 26.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,802 shares of the company’s stock after buying an additional 4,128 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.06% of Inter Parfums worth $2,298,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IPAR. Vanguard Group Inc. grew its stake in Inter Parfums by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock worth $288,718,000 after buying an additional 30,316 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Inter Parfums by 6.0% during the first quarter. Bahl & Gaynor Inc. now owns 252,420 shares of the company’s stock valued at $35,468,000 after buying an additional 14,245 shares during the last quarter. Norges Bank acquired a new position in shares of Inter Parfums in the 4th quarter valued at $32,493,000. First Trust Advisors LP lifted its holdings in shares of Inter Parfums by 43.0% during the fourth quarter. First Trust Advisors LP now owns 201,643 shares of the company’s stock worth $29,039,000 after purchasing an additional 60,606 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Inter Parfums by 19.9% in the second quarter. Raymond James & Associates now owns 126,189 shares of the company’s stock worth $14,642,000 after acquiring an additional 20,985 shares during the period. Institutional investors own 55.57% of the company’s stock.

Insider Transactions at Inter Parfums

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 43.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Inter Parfums Trading Up 1.4 %

Shares of IPAR stock 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. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The company’s 50-day moving average price is $126.66 and its 200-day moving average price is $125.40. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 27.45 and a beta of 1.16.

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

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.