Hermes International (OTCMKTS:HESAY) Stock Bumped Down to "Hold" by Berenberg Bank

Key Points

• Berenberg Bank downgraded Hermès International from “strong buy” to “hold,” adding to recent analyst concerns.
• Other analysts have also turned more cautious: UBS and Goldman Sachs rated the stock “sell,” while Zacks Research issued a “strong sell” rating. MarketBeat data shows an overall average rating of “hold.”
• Shares opened at $138.06 after falling 4.2%, near the 52-week low of $137.40 and well below the 52-week high of $265.89.

Hermes International (OTCMKTS:HESAY - Get Free Report) was downgraded by research analysts at Berenberg Bank from a "strong-buy" rating to a "hold" rating in a note issued to investors on Friday, Zacks reports.

Several other research analysts have also weighed in on the stock. UBS Group lowered shares of Hermes International from a "neutral" rating to a "sell" rating in a research report on Monday, October 5th. The Goldman Sachs Group initiated coverage on shares of Hermes International in a research report on Monday, October 5th. They set a "sell" rating for the company. Rothschild & Co Redburn lowered Hermes International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 1st. Royal Bank Of Canada cut Hermes International from an "outperform" rating to a "sector perform" rating in a report on Tuesday, August 18th. Finally, Zacks Research downgraded Hermes International from a "hold" rating to a "strong sell" rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Hermes International Trading Down 4.2%

Shares of HESAY opened at $138.06 on Friday. The company has a 50-day simple moving average of $160.47 and a 200-day simple moving average of $179.49. Hermes International has a 52-week low of $137.40 and a 52-week high of $265.89.

Hermes International Company Profile

Hermès International is a French luxury-goods company headquartered in Paris. Founded in 1837 by Thierry Hermès as a harness workshop, the company has evolved into a global manufacturer and retailer of high-end products while retaining a strong focus on craftsmanship, quality and long-term brand heritage.

Hermès designs and sells leather goods and saddlery, including handbags, luggage and equestrian equipment. Its other product categories include silk and textiles, ready-to-wear clothing, shoes, fashion accessories, perfumes and beauty products, watches, jewelry, and home furnishings.

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