TD Cowen Initiates Coverage on Compagnie Financiere Richemont (OTCMKTS:CFRUY)

Key Points

• TD Cowen initiated coverage of Compagnie Financiere Richemont with a “strong-buy” rating, while RBC recently downgraded the stock to “hold”; analysts’ overall consensus remains “Buy.”
• Richemont shares opened at $20.07, up 1.0%, with a 12-month trading range of $16.26 to $24.86 and relatively low debt, reflected in a 0.19 debt-to-equity ratio.
• Azimuth Capital Investment Management established a new position of 501,500 shares valued at approximately $11.6 million during the second quarter.

Equities research analysts at TD Cowen began coverage on shares of Compagnie Financiere Richemont (OTCMKTS:CFRUY - Get Free Report) in a report released on Friday, Zacks reports. The brokerage set a "strong-buy" rating on the stock.

Separately, Royal Bank Of Canada lowered shares of Compagnie Financiere Richemont from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

Compagnie Financiere Richemont Stock Up 1.0%

Shares of OTCMKTS CFRUY opened at $20.07 on Friday. The company has a 50-day simple moving average of $21.34 and a 200-day simple moving average of $20.89. The company has a current ratio of 3.10, a quick ratio of 2.06 and a debt-to-equity ratio of 0.19. Compagnie Financiere Richemont has a 12 month low of $16.26 and a 12 month high of $24.86.

Hedge Funds Weigh In On Compagnie Financiere Richemont

A hedge fund recently bought a new stake in Compagnie Financiere Richemont stock. Azimuth Capital Investment Management LLC purchased a new position in Compagnie Financiere Richemont AG (OTCMKTS:CFRUY - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 501,500 shares of the company's stock, valued at approximately $11,598,000.

Compagnie Financiere Richemont Company Profile

Compagnie Financière Richemont SA is a Switzerland-based luxury goods group headquartered in Geneva. Founded in 1988 by Johann Rupert, the company develops, manufactures and distributes high-end products through a portfolio of internationally recognized maisons.

Its Jewellery Maisons include Cartier, Van Cleef & Arpels, Buccellati and Piaget. Richemont also operates specialist watchmakers such as Vacheron Constantin, Jaeger-LeCoultre, IWC Schaffhausen, Panerai and A. Lange & Söhne.

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