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

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) gapped down before the market opened on Thursday. The stock had previously closed at $3.92, but opened at $3.65. Salvatore Ferragamo shares last traded at $3.65, with a volume of 1,170 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SFRGY shares. Zacks Research raised shares of Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Citigroup reissued a “neutral” rating on shares of Salvatore Ferragamo in a research report on Monday, August 17th. Two analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Salvatore Ferragamo Trading Down 4.7%

The stock has a fifty day moving average of $4.73 and a 200-day moving average of $5.07.

Salvatore Ferragamo Company Profile

Salvatore Ferragamo S.p.A. is an Italian luxury-goods company best known for its footwear and leather craftsmanship. The company designs and sells luxury shoes, handbags, small leather goods, apparel, silk products, accessories, eyewear, watches and fragrances under the Ferragamo brand.

The company traces its origins to Salvatore Ferragamo, who established his business in Italy in 1927 after developing a reputation as a footwear designer in the United States. Ferragamo became known for combining technical innovation with Italian craftsmanship, and the business later expanded from shoes into a broader lifestyle and luxury-fashion offering.

Salvatore Ferragamo serves customers internationally through directly operated stores, e-commerce, selected wholesale partners and travel-retail locations.