The company lowered its forecast as the fragrance market overall grows modestly.

If you’re sizing up what to do with Interparfums stock at this moment, you’re definitely not alone. It’s the kind of name that rarely makes the flashy headlines, but there’s a steady drumbeat of curiosity about where this fragrance company is headed, especially after the stock’s recent performance. Over the past year, shares have slipped by 20.8%, even though the past five years have offered a much rosier 30.4% return. There’s something intriguing happening in that contrast. The more recent...