They were major accounts. The first ones that really started to count since he entered the trading room. This Tuesday, Puig presented the results of the third quarter of the year and investors added to the good smell of his figures. In the first moments of the session, The Catalan company soars 10% on the stock market, its largest increase in one session in its short stock market history.
The premium beauty company’s sales increased by around 12% year-on-year in the third quarter of the year, mainly driven by the good performance of the perfume segment (growth of 11%). increase in quarterly turnover to 1,257 million euros already 3.428 million euros over the first nine months of the year. Additionally, the company confirms its high single-digit sales growth targets.
These results were really relevant because these were the accounts that began to demonstrate the growth of the company after its jump to the stock market and after the previous ones which were burdened by the expenses of the IPO. Investors were quick to associate themselves with this good tone of Puig’s accounts and the company took off on the stock market, return to the level of 20 euros per share and return to the levels observed at the beginning of September.
“We expect a positive reception both for the acceleration seen during the quarter and for the strength it continues to demonstrate. the Perfumes segment, with double-digit growth, increased market share and positive comments for the fourth quarter (the most relevant of the season)”, says Banco Sabadell. Jefferies, which advises buying the company’s shares , also considers sales to be strong and reassuring compared to the results of the first half in a context of increasing nervousness about the growth of the perfume market.
On November 3, the Catalan company celebrates six months of presence on the Spanish market. The optimism of the stock market debut (which was the highest in the world in 2024, inaugurating the company with a capitalization of 13.9 billion euros) led its shares to the level of 27.60 euros, against 24, 50 for those who have started their journey in the stock market. sotck exchange. However, the disappointment of the second quarter results aroused the distrust of investors who dismantled their positions in the company until it fell below 19 euros. Today, it is rebounding about 15% from the low it marked on October 21 and reduced its losses since its bell rang to less than 13%.
As many as five analysts revised their valuations of Puig shares on Wednesday. Grupo Santander, which recently lowered its price target, further increased it by 27 euros to 27.50. The others have kept their forecasts on Puig intact and, currently, the average valuation of the shares of the premium beauty company stands at 27.3 euros, which leaves its price a potential increase of 28% for the following months. 82% of experts recommend buying their stocks.
