Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Gap Up – Time to Buy?

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) shares gapped up before the market opened on Monday . The stock had previously closed at $5.9350, but opened at $6.21. Salvatore Ferragamo shares last traded at $6.21, with a volume of 258 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Zacks Research raised shares of Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Citigroup reaffirmed a “neutral” rating on shares of Salvatore Ferragamo in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Salvatore Ferragamo Stock Performance

The company has a market capitalization of $2.10 billion and a price-to-earnings ratio of 12.13. The company has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $4.60.

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.