PineStone Asset Management Inc. has enhanced its investment in Interparfums, Inc. (NASDAQ: IPAR) by 10% during the third quarter of 2023, as revealed in a recent filing with the Securities and Exchange Commission. The firm now holds 119,352 shares of Interparfums, having acquired an additional 10,835 shares throughout the quarter. This increased stake represents approximately 0.37% of Interparfums, valued at around $11.7 million at the close of the reporting period.
Several institutional investors have also adjusted their holdings in Interparfums. Notably, Westwood Holdings Group Inc. increased its position by an impressive 66.8% in the second quarter, now owning 775,590 shares worth $101.8 million. Additionally, London Co. of Virginia entered the fray by purchasing a new stake valued at approximately $27.6 million. Squarepoint Ops LLC significantly boosted its holdings by 249.3%, now holding 225,907 shares valued at $29.7 million. Man Group plc also made headlines by raising its stake by an astounding 572.8%, now owning 187,058 shares worth $24.6 million. Finally, Norges Bank acquired a new stake valued at around $17.2 million.
Overall, institutional investors control 55.57% of Interparfums’ stock, reflecting significant confidence in the company’s future prospects.
Stock Performance and Analyst Outlook
On Friday, Interparfums stock opened at $85.65. The company’s shares have fluctuated over the past year, reaching a low of $77.21 and a high of $148.15. Its 50-day moving average stands at $86.38, while the 200-day moving average is $106.47. Interparfums has a market capitalization of $2.75 billion, a P/E ratio of 16.76, and a beta of 1.25. The company’s financial health is reflected in its low debt-to-equity ratio of 0.13, a current ratio of 3.27, and a quick ratio of 1.99.
Several research analysts have issued forecasts concerning Interparfums. UBS Group set a price target of $103.00, while Canaccord Genuity Group reaffirmed a “buy” rating with a target of $123.00. Sanford C. Bernstein upgraded the stock to a “strong-buy” rating, indicating positive sentiment towards the company’s future performance. Weiss Ratings maintained a “hold (c-)” rating, whereas Jefferies Financial Group lowered its target from $150.00 to $125.00 but still rated the stock as a “buy.”
Currently, one analyst has rated Interparfums as a Strong Buy, five analysts have issued Buy ratings, and two have provided a Hold rating. According to data from MarketBeat.com, the consensus rating for Interparfums is “Moderate Buy,” with a target price of $121.00.
Interparfums Company Overview
Interparfums, Inc. is a well-established global fragrance company that designs, manufactures, and distributes a wide array of premium perfume and cosmetic products. The company operates primarily through licensing agreements with prominent fashion and luxury brands. Interparfums manages every stage of product development, from concept and formulation to production and global distribution.
The company’s portfolio includes well-known brands such as Montblanc, Coach, Jimmy Choo, Van Cleef & Arpels, and Lanvin, among others. Its core activities encompass fragrance creation, brand management, and international logistics, positioning Interparfums as a significant player in the fragrance industry.
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