Swatch Group (OTCMKTS:SWGAY) Shares Gap Up – Still a Buy?

Shares of Swatch Group AG (OTCMKTS:SWGAY) gapped up before the market opened on Thursday. The stock had previously closed at $10.6120, but opened at $11.09. Swatch Group shares last traded at $11.08, with a volume of 1,306 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Sanford C. Bernstein lowered Swatch Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th. The Goldman Sachs Group initiated coverage on Swatch Group in a research note on Sunday, October 4th. They issued a “sell” rating on the stock. Finally, Kepler Capital Markets upgraded Swatch Group from a “reduce” rating to a “buy” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Swatch Group Trading Down 0.7%

The stock’s fifty day moving average is $11.17 and its two-hundred day moving average is $11.83.

Swatch Group Company Profile

Swatch Group Ltd. is a Swiss-based international watchmaking and jewelry company headquartered in Biel/Bienne, Switzerland. The group develops, manufactures and markets watches, jewelry, watch movements and components, as well as related electronic systems and products.

Its portfolio includes brands across the luxury, prestige and entry-level segments, including Breguet, Blancpain, Omega, Longines, Rado, Tissot, Hamilton, Certina, Mido, Swatch, Glashütte Original and Harry Winston. Through its manufacturing companies, Swatch Group also supplies mechanical and quartz movements, watch components and other production technologies to its own brands and, in some cases, external customers.

The company was formed in 1983 through the merger of Swiss watchmaking groups ASUAG and SSIH.