Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Down 6.9% – Here’s Why

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s stock price was down 6.9% during trading on Thursday . The company traded as low as $5.2810 and last traded at $5.2810. Approximately 104 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 10,888 shares. The stock had previously closed at $5.67.

Analyst Ratings Changes

A number of analysts have issued reports on SFRGY shares. Zacks Research upgraded 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 note on Monday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Salvatore Ferragamo currently has an average rating of “Hold”.

Salvatore Ferragamo Stock Performance

The firm has a 50 day moving average price of $5.84 and a 200-day moving average price of $4.86.

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.