Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Down 7.3% – Should You Sell?

Shares of Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) traded down 7.3% during mid-day trading on Thursday . The company traded as low as $4.59 and last traded at $4.59. 150 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 9,974 shares. The stock had previously closed at $4.95.

Analysts Set New Price Targets

Several brokerages have commented on SFRGY. Zacks Research upgraded shares of Salvatore Ferragamo to a “hold” rating in a research report on Thursday, June 25th. Citigroup restated a “neutral” rating on shares of Salvatore Ferragamo in a research report on Monday, August 17th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Salvatore Ferragamo presently has an average rating of “Hold”.

Salvatore Ferragamo Stock Down 7.7%

The company’s fifty day simple moving average is $5.57 and its two-hundred day simple moving average is $5.03.

Salvatore Ferragamo Company Profile

Salvatore Ferragamo S.p.A. is an Italian luxury goods company headquartered in Florence, Italy. Founded by Salvatore Ferragamo in 1927, the company is known for combining Italian craftsmanship with fashion and design, building on its founder’s early reputation as a shoemaker for Hollywood celebrities.

The company designs, manufactures and sells luxury footwear, handbags and other leather goods, ready-to-wear clothing, silk products, accessories, eyewear and fragrances. Its products are marketed under the Ferragamo brand through directly operated boutiques, department stores, specialty retailers, e-commerce platforms and selected wholesale partners.

Ferragamo serves customers internationally, with operations and distribution spanning Europe, North America, Asia-Pacific and other global markets.