Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Down 7.1% – Should You Sell?

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s share price dropped 7.1% during trading on Monday . The company traded as low as $5.5462 and last traded at $5.5462. Approximately 855 shares traded hands during trading, a decline of 69% from the average session volume of 2,751 shares. The stock had previously closed at $5.97.

Analysts Set New Price Targets

SFRGY has been the topic of a number of research analyst reports. Zacks Research raised shares of Salvatore Ferragamo to a “hold” rating in a research report on Thursday, June 25th. Citigroup reiterated a “neutral” rating on shares of Salvatore Ferragamo in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Salvatore Ferragamo Price Performance

The company has a 50 day moving average of $5.56 and a two-hundred day moving average of $4.67. The company has a market capitalization of $1.87 billion and a PE ratio of 12.13.

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.