Salvatore Ferragamo (OTCMKTS:SFRGY) Trading 6.9% Higher – Time to Buy?

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s share price rose 6.9% during mid-day trading on Tuesday . The stock traded as high as $5.9850 and last traded at $5.9850. 223 shares were traded during trading, a decline of 98% from the average daily volume of 11,092 shares. The stock had previously closed at $5.60.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SFRGY. Citigroup restated a “neutral” rating on shares of Salvatore Ferragamo in a research report on Tuesday, June 30th. Zacks Research upgraded shares of Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Salvatore Ferragamo Price Performance

The company has a 50-day moving average of $5.77 and a 200 day moving average of $4.76.

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.