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

Shares of Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) fell 6.9% on Thursday . The company traded as low as $5.2810 and last traded at $5.2810. 104 shares changed hands during trading, a decline of 99% from the average daily volume of 10,888 shares. The stock had previously closed at $5.67.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SFRGY shares. Citigroup reiterated a “neutral” rating on shares of Salvatore Ferragamo in a research report on Monday. Zacks Research raised Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Salvatore Ferragamo currently has a consensus rating of “Hold”.

Salvatore Ferragamo Price Performance

The firm has a 50 day moving average price of $5.85 and a two-hundred day moving average price of $4.85.

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.