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Inter Parfums (IPAR) Soars 8.9%: Is Further Upside Left in the Stock?
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Inter Parfums (IPAR - Free Report) shares ended the last trading session 8.9% higher at $138.35. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.9% gain over the past four weeks.
Inter Parfums’ shares rallied on optimistic market sentiment following its record second-quarter 2024 net sales numbers. The company capitalized on the strong momentum in the fragrance market, supported by robust sales from its new licenses, Roberto Cavalli and Lacoste, driving overall sales growth. Quarterly net sales rose 11% to $342 million compared with $309 million reported in the year-ago quarter. The increase in sales highlights the company's strategy of maintaining a more even distribution of product launches and investments in advertising and promotions, rather than heavily focusing on peak selling periods.
This perfume maker is expected to post quarterly earnings of $1.07 per share in its upcoming report, which represents a year-over-year change of -1.8%. Revenues are expected to be $336.72 million, up 8.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Inter Parfums, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on IPAR going forward to see if this recent jump can turn into more strength down the road.
Inter Parfums is a member of the Zacks Cosmetics industry. One other stock in the same industry, e.l.f. Beauty (ELF - Free Report) , finished the last trading session 4.6% higher at $177.43. ELF has returned -17% over the past month.
For e.l.f. Beauty, the consensus EPS estimate for the upcoming report has changed -4.1% over the past month to $0.84. This represents a change of -23.6% from what the company reported a year ago. e.l.f. Beauty currently has a Zacks Rank of #3 (Hold).
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Inter Parfums (IPAR) Soars 8.9%: Is Further Upside Left in the Stock?
Inter Parfums (IPAR - Free Report) shares ended the last trading session 8.9% higher at $138.35. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.9% gain over the past four weeks.
Inter Parfums’ shares rallied on optimistic market sentiment following its record second-quarter 2024 net sales numbers. The company capitalized on the strong momentum in the fragrance market, supported by robust sales from its new licenses, Roberto Cavalli and Lacoste, driving overall sales growth. Quarterly net sales rose 11% to $342 million compared with $309 million reported in the year-ago quarter. The increase in sales highlights the company's strategy of maintaining a more even distribution of product launches and investments in advertising and promotions, rather than heavily focusing on peak selling periods.
This perfume maker is expected to post quarterly earnings of $1.07 per share in its upcoming report, which represents a year-over-year change of -1.8%. Revenues are expected to be $336.72 million, up 8.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Inter Parfums, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on IPAR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Inter Parfums is a member of the Zacks Cosmetics industry. One other stock in the same industry, e.l.f. Beauty (ELF - Free Report) , finished the last trading session 4.6% higher at $177.43. ELF has returned -17% over the past month.
For e.l.f. Beauty, the consensus EPS estimate for the upcoming report has changed -4.1% over the past month to $0.84. This represents a change of -23.6% from what the company reported a year ago. e.l.f. Beauty currently has a Zacks Rank of #3 (Hold).