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

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.10, but opened at $6.59. Salvatore Ferragamo shares last traded at $6.48, with a volume of 550 shares trading hands.

Wall Street Analysts Forecast Growth

SFRGY has been the subject of a number of recent research reports. Zacks Research raised shares of Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Citigroup restated a “neutral” rating on shares of Salvatore Ferragamo in a research report on Tuesday. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Salvatore Ferragamo currently has a consensus rating of “Hold”.

Salvatore Ferragamo Stock Performance

The firm has a market capitalization of $1.97 billion and a P/E ratio of 12.13. The firm has a 50 day moving average price of $5.07 and a 200-day moving average price of $4.54.

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.