Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Gap Down – What’s Next?

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $5.59, but opened at $5.37. Salvatore Ferragamo shares last traded at $5.37, with a volume of 625 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on SFRGY shares. Zacks Research raised shares of Salvatore Ferragamo to a “hold” rating in a report on Thursday, June 25th. Citigroup reissued a “neutral” rating on shares of Salvatore Ferragamo in a report on Monday, August 17th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Salvatore Ferragamo Stock Performance

The company has a 50 day moving average price of $5.83 and a 200 day moving average price of $4.91.

About Salvatore Ferragamo

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.