Salvatore Ferragamo (OTCMKTS:SFRGY) Trading 6.9% Higher – Here’s What Happened

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY)’s stock price shot up 6.9% during mid-day trading on Tuesday . The stock traded as high as $5.9850 and last traded at $5.9850. 223 shares traded hands during trading, a decline of 98% from the average daily volume of 11,092 shares. The stock had previously closed at $5.60.

Analysts Set New Price Targets

Several research firms have recently weighed in on SFRGY. 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 analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Salvatore Ferragamo Trading Up 7.9%

The business has a fifty day simple moving average of $5.77 and a two-hundred day simple moving average of $4.76.

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.