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

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $6.1950, but opened at $5.75. Salvatore Ferragamo shares last traded at $5.75, with a volume of 729 shares changing hands.

Analysts Set New Price Targets

SFRGY has been the subject of a number of research reports. Citigroup reiterated a “neutral” rating on shares of Salvatore Ferragamo in a research note on Tuesday. Zacks Research raised Salvatore Ferragamo to a “hold” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Salvatore Ferragamo Stock Performance

The business’s 50-day moving average price is $5.05 and its 200-day moving average price is $4.53. The stock has a market cap of $1.94 billion and a P/E ratio of 12.13.

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.