Safran (OTCMKTS:SAFRY) Shares Gap Down – Here’s Why

Shares of Safran SA (OTCMKTS:SAFRY) gapped down before the market opened on Monday . The stock had previously closed at $83.67, but opened at $81.33. Safran shares last traded at $81.66, with a volume of 6,372 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SAFRY shares. The Goldman Sachs Group initiated coverage on shares of Safran in a research note on Friday, September 19th. They set a “buy” rating for the company. Zacks Research upgraded shares of Safran from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Safran in a research note on Friday, October 24th. Finally, Sanford C. Bernstein raised shares of Safran from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Safran Stock Performance

The firm has a 50-day moving average of $87.35 and a 200 day moving average of $82.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.93 and a quick ratio of 0.66.

About Safran

Safran SA, together with its subsidiaries, engages in the aerospace and defense businesses worldwide. The company operates through three segments: Aerospace Propulsion; Aircraft Equipment, Defense and Aerosystems; and Aircraft Interiors. The Aerospace Propulsion segment designs, develops, produces, and markets propulsion and mechanical power transmission systems for commercial aircraft, military transport, training and combat aircraft, civil and military helicopters, satellites, and drones; and offers maintenance, repair, and overhaul (MRO) services, as well as sells spare parts.