Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Gap Up – Should You Buy?

Shares of Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) gapped up before the market opened on Thursday . The stock had previously closed at $5.4628, but opened at $6.00. Salvatore Ferragamo shares last traded at $6.00, with a volume of 2,003 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on SFRGY. Zacks Research upgraded Salvatore Ferragamo to a “hold” rating in a research note on Thursday, June 25th. Citigroup reissued a “neutral” rating on shares of Salvatore Ferragamo in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Salvatore Ferragamo Trading Up 8.5%

The company has a market cap of $2.13 billion and a P/E ratio of 12.13. The business’s 50 day simple moving average is $5.75 and its 200 day simple moving average is $4.73.

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.