Long Position on IPAR @ $139.50 on 3/16/2023 (Momentum)

Inter Parfums, Inc. (IPAR) 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. Dupont, Van Cleef & Arpels, Abercrombie & Fitch, Anna Sui, Donna Karan, DKNY, Ferragamo, Graff, GUESS, Hollister, MCM, Oscar de la Renta, and Ungaro brands, as well as French Connection, Intimate, and Aziza names.

It sells its products to department stores, specialty stores, duty free shops, beauty retailers, and domestic and international wholesalers, and distributors, as well as through e-commerce. 

Shares have formed a bullish "cup and handle" following the company's latest quarterly report. On February 28th, IPAR reported Quarter December 2022 earnings of $0.71 per share on revenue of $310.8 million. The consensus earnings estimate was $0.34 per share on revenue of $294.0 million. Revenue grew 47.5% on a year-over-year basis. Higher share prices are expected.

Entry Price: $139.50

Trading Range: $64.52 to $140.86

Stop Loss: $132.00

Target Price: $152.00

Position closed on 4/17/2023 at price of $149.00 with a 6.81% gain in 32 days.

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