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

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $5.91, but opened at $5.49. Salvatore Ferragamo shares last traded at $5.49, with a volume of 181 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SFRGY. Zacks Research upgraded shares of Salvatore Ferragamo to a “hold” rating in a research report on Thursday, June 25th. Citigroup restated a “neutral” rating on shares of Salvatore Ferragamo in a research note on Monday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Salvatore Ferragamo Trading Down 3.2%

The stock has a fifty day moving average price of $5.84 and a two-hundred day moving average price of $4.84.

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.