Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Down 7.1% – Here’s Why

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s stock price was down 7.1% on Monday . The stock traded as low as $5.5462 and last traded at $5.5462. 855 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 2,751 shares. The stock had previously closed at $5.97.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SFRGY shares. Citigroup restated a “neutral” rating on shares of Salvatore Ferragamo in a research report on Tuesday, June 30th. Zacks Research raised shares of Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Salvatore Ferragamo Stock Up 4.2%

The stock has a market capitalization of $1.95 billion and a P/E ratio of 12.13. The company has a fifty day simple moving average of $5.62 and a two-hundred day simple moving average of $4.68.

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.