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

Compagnie Financiere Richemont AG (OTCMKTS:CFRUY)’s share price gapped down before the market opened on Friday. The stock had previously closed at $21.27, but opened at $19.70. Compagnie Financiere Richemont shares last traded at $19.68, with a volume of 29,572 shares changing hands.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded Compagnie Financiere Richemont from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Compagnie Financiere Richemont Trading Down 6.6%

The business has a fifty day moving average of $21.73 and a 200-day moving average of $21.64. The company has a current ratio of 3.10, a quick ratio of 2.06 and a debt-to-equity ratio of 0.19.

Institutional Investors Weigh In On Compagnie Financiere Richemont

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

Compagnie Financiere Richemont Company Profile

Compagnie Financière Richemont SA is a Switzerland-based luxury goods group headquartered in Geneva. Founded in 1988 by Johann Rupert, the company develops, manufactures and distributes high-end products through a portfolio of internationally recognized maisons.

Its Jewellery Maisons include Cartier, Van Cleef & Arpels, Buccellati and Piaget. Richemont also operates specialist watchmakers such as Vacheron Constantin, Jaeger-LeCoultre, IWC Schaffhausen, Panerai and A. Lange & Söhne.