Salvatore Ferragamo (OTCMKTS:SFRGY) Trading Down 5.7% – Here’s Why

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s share price dropped 5.7% on Thursday . The company traded as low as $5.84 and last traded at $5.84. 778 shares were traded during trading, a decline of 73% from the average daily volume of 2,917 shares. The stock had previously closed at $6.19.

Wall Street Analyst Weigh In

SFRGY has been the topic of a number of recent analyst reports. Zacks Research raised Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Citigroup reaffirmed a “neutral” rating on shares of Salvatore Ferragamo in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Salvatore Ferragamo has an average rating of “Hold”.

Salvatore Ferragamo Stock Performance

The business has a 50 day moving average of $5.23 and a two-hundred day moving average of $4.58. The firm has a market capitalization of $1.97 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.