Salvatore Ferragamo (OTCMKTS:SFRGY) Share Price Passes Below 50 Day Moving Average of $8.23

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGYGet Rating)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.23 and traded as low as $7.62. Salvatore Ferragamo shares last traded at $7.66, with a volume of 5,508 shares changing hands.

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Salvatore Ferragamo from €20.00 ($21.05) to €17.00 ($17.89) and set a “hold” rating for the company in a research report on Friday, May 20th. UBS Group dropped their price objective on shares of Salvatore Ferragamo from €14.50 ($15.26) to €12.50 ($13.16) in a research report on Tuesday, June 7th. Societe Generale cut shares of Salvatore Ferragamo from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Cheuvreux lowered shares of Salvatore Ferragamo from a “hold” rating to a “reduce” rating in a report on Monday, April 4th. Finally, Citigroup lowered their target price on shares of Salvatore Ferragamo to €17.50 ($18.42) and set a “neutral” rating for the company in a report on Tuesday, May 17th. Seven analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $16.25.

The firm’s fifty day moving average price is $8.23 and its 200-day moving average price is $9.93.

About Salvatore Ferragamo (OTCMKTS:SFRGY)

Salvatore Ferragamo S.p.A., through its subsidiaries, creates, produces, and sells luxury goods for men and women in Italy, rest of Europe, North America, Japan, the Asia Pacific, and Central and South America. The company offers men's and women's footwear; leather goods, such as handbags, suitcases, belts, wallets, and other men's and women's leather accessories; and knitwear, clothes for formal occasions, sportswear, and leisure wear, as well as outerwear, such as husky jackets, ponchos, and leather garments.

Further Reading

Receive News & Ratings for Salvatore Ferragamo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salvatore Ferragamo and related companies with MarketBeat.com's FREE daily email newsletter.