Salvatore Ferragamo (OTCMKTS:SFRGY) Trading Down 12.4% – Here’s Why

Shares of Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) were down 12.4% during trading on Thursday . The stock traded as low as $4.95 and last traded at $4.95. Approximately 264 shares were traded during trading, a decline of 97% from the average session volume of 10,094 shares. The stock had previously closed at $5.65.

Analyst Upgrades and Downgrades

SFRGY has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Salvatore Ferragamo to a “hold” rating in a report on Thursday, June 25th. Citigroup restated a “neutral” rating on shares of Salvatore Ferragamo in a report on Monday, August 17th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Salvatore Ferragamo Price Performance

The firm has a 50 day moving average price of $5.72 and a two-hundred day moving average price of $5.00.

Salvatore Ferragamo Company Profile

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.