Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Gap Down – Here’s Why

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $6.50, but opened at $5.91. Salvatore Ferragamo shares last traded at $5.91, with a volume of 882 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SFRGY. Citigroup restated a “neutral” rating on shares of Salvatore Ferragamo in a research report on Tuesday, June 30th. Zacks Research raised Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Salvatore Ferragamo Trading Down 4.8%

The stock has a fifty day moving average of $5.16 and a 200-day moving average of $4.56. The firm has a market capitalization of $2.09 billion and a price-to-earnings ratio of 12.13.

Salvatore Ferragamo Company Profile

Salvatore Ferragamo S.p.A. operates as a designer, producer and distributor of high-end luxury footwear, leather goods, apparel and accessories. The company’s product portfolio spans men’s and women’s shoes, handbags, small leather items, silk products, ready-to-wear collections, eyewear, fragrances and watches. Through its vertically integrated business model, Ferragamo controls key aspects of the value chain, from design and manufacturing to wholesale distribution and direct-to-consumer retail.

Founded in 1927 by Italian shoemaker Salvatore Ferragamo, the company is headquartered in Florence, Italy and has grown into a globally recognized luxury brand.