Puig stock lost 1.9% during Tuesday’s session and remained the most bearish company in the Ibex 35. In addition, in recent days Morninstar, which is one of the analytical companies who monitor its behavior on the stock market, worsened its recommendation and changed its opinion. from purchase to holding. In addition, in recent days Morninstar, which is one of the analytical companies that monitor its behavior on the stock market, has worsened its recommendation and changed the buy advice to hold.
This correction is the fourth consecutive that the company’s shares have suffered. high-end beautywhich remains just over 7% of the lowest price reached in October, at 18.67 euros.
Last Wednesday, Puig soared 10% on the stock market after presenting the results for the third quarter of the year, which represented the largest increase in a single session in its short stock market life. The company recorded sales growth of around 12% year-on-year in the third quarter of the year, driven mainly by the good performance of the perfume segment (growth of 11%), bringing its quarterly turnover to 1 257 million euros, or 3,428 million euros. the first nine months of the year. Additionally, the company confirmed its high-single-digit sales growth targets.
“Management is confident in the underlying growth of the prestige beauty market in FY2025 (6-7%), which should support market expectations. Despite the strong third quarter results, we expect limited changes in consensus expectations for fiscal 2024. More “More importantly, we believe the third quarter results mark an important turning point in Puig’s results following the weak first half, which should help to strengthen investor confidence in the management of the fourth quarter of 2024 and 2025″, they explain in a JP Morgan report.
Puig has just completed its sixth month as a listed company, since last May 3 the Catalan company launched the continuous market, with a price of 24.5 euros per share. Thus, it only took two months for Puig to be part of the national index par excellence, the Ibex 35, and on July 22 it became part of the benchmark in place of Meliá.
The company followed the trend of the European luxury segment, which lost 1.7% yesterday, the largest drop in the last month. During the year, Puig already corrects 18% and is among the most bearish companies in the index.
