Salvatore Ferragamo (OTCMKTS:SFRGY) Stock Price Down 8.5% – Here’s What Happened

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) shares were down 8.5% during mid-day trading on Thursday . The company traded as low as $5.72 and last traded at $5.8650. 2,976 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 2,952 shares. The stock had previously closed at $6.41.

Analysts Set New Price Targets

SFRGY has been the subject of a number of recent analyst reports. Zacks Research raised shares of Salvatore Ferragamo to a “hold” rating in a research report on Thursday, June 25th. Citigroup reaffirmed a “neutral” rating on shares of Salvatore Ferragamo in a report on Tuesday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Salvatore Ferragamo Stock Performance

The firm has a market capitalization of $1.99 billion and a P/E ratio of 12.13. The stock has a fifty day moving average price of $5.12 and a two-hundred day moving average price of $4.55.

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.