Compagnie Financiere Richemont (OTCMKTS:CFRUY) Shares Gap Down – Here’s Why

Shares of Compagnie Financiere Richemont AG (OTCMKTS:CFRUY) gapped down prior to trading on Friday. The stock had previously closed at $21.00, but opened at $19.99. Compagnie Financiere Richemont shares last traded at $20.15, with a volume of 23,946 shares trading hands.

Analysts Set New Price Targets

CFRUY has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on Compagnie Financiere Richemont in a report on Friday, October 30th. They set a “strong-buy” rating for the company. Royal Bank Of Canada cut shares of Compagnie Financiere Richemont from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Compagnie Financiere Richemont currently has a consensus rating of “Buy”.

Compagnie Financiere Richemont Stock Down 4.2%

The stock has a fifty day moving average of $20.86 and a 200-day moving average of $20.91. The company has a current ratio of 3.10, a quick ratio of 2.06 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Compagnie Financiere Richemont

A hedge fund recently bought a new stake in Compagnie Financiere Richemont stock. Azimuth Capital Investment Management LLC acquired a new position in shares of Compagnie Financiere Richemont AG (OTCMKTS:CFRUY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 501,500 shares of the company’s stock, valued at approximately $11,598,000.

About Compagnie Financiere Richemont

Compagnie Financière Richemont is a Switzerland-based luxury goods group whose businesses design, manufacture and sell jewelry, watches, fashion and accessories. Its portfolio includes jewelry houses such as Cartier, Van Cleef & Arpels and Buccellati, as well as specialist watchmakers including IWC Schaffhausen, Jaeger-LeCoultre, Panerai and Vacheron Constantin. The group also includes fashion and accessories Maisons such as Alaïa and Chloé. Its products are sold internationally through boutiques, e-commerce and wholesale partners, serving customers across major luxury markets worldwide.