Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Gap Up – Here’s What Happened

Shares of Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) gapped up before the market opened on Friday . The stock had previously closed at $5.78, but opened at $6.27. Salvatore Ferragamo shares last traded at $6.27, with a volume of 443 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SFRGY shares. Citigroup reiterated a “neutral” rating on shares of Salvatore Ferragamo in a report on Tuesday, June 30th. Zacks Research raised Salvatore Ferragamo to a “hold” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Salvatore Ferragamo presently has an average rating of “Hold”.

Salvatore Ferragamo Trading Down 1.5%

The business’s fifty day simple moving average is $5.68 and its 200 day simple moving average is $4.70. The stock has a market cap of $1.94 billion and a price-to-earnings 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.