Burberry Group (OTCMKTS:BURBY) Shares Gap Up – Here’s Why

Shares of Burberry Group PLC (OTCMKTS:BURBY) gapped up before the market opened on Tuesday . The stock had previously closed at $13.62, but opened at $14.51. Burberry Group shares last traded at $14.49, with a volume of 1,865 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Barclays raised Burberry Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Burberry Group Stock Performance

The company’s 50 day moving average price is $15.23 and its 200 day moving average price is $15.96.

About Burberry Group

Burberry Group plc is a British luxury fashion house renowned for its distinctive designs and iconic outerwear. The company’s product portfolio encompasses ready-to-wear clothing, leather goods, handbags, accessories, footwear, fragrances and beauty items. Burberry is particularly famous for its classic trench coat, crafted from its patented gabardine fabric, and the signature checked pattern that has become a global emblem of luxury.

Founded in 1856 by Thomas Burberry in Basingstoke, England, the company initially specialized in weatherproof garments and outdoor attire.