Kering (OTCMKTS:PPRUY) Shares Gap Down on Analyst Downgrade

Key Points

• Kering's stock price gapped down from $39.91 to $38.36 following a downgrade from HSBC from a buy rating to a hold rating.
• The company has received mixed ratings from analysts, with two rating it a Strong Buy and three giving it a Sell, leading to an average rating of "Hold."
• Kering's current stock price reflects a 3.8% decline, and the company's recent performance is also indicated by its 50-day and 200-day moving averages of $31.21 and $24.74, respectively.

Kering SA (OTCMKTS:PPRUY - Get Free Report)'s stock price gapped down prior to trading on Friday after HSBC downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $39.91, but opened at $38.36. Kering shares last traded at $38.35, with a volume of 129,981 shares trading hands.

A number of other research analysts also recently weighed in on the company. Hsbc Global Res upgraded Kering to a "strong-buy" rating in a report on Tuesday, September 2nd. Barclays reaffirmed an "underweight" rating on shares of Kering in a research report on Tuesday, October 7th. Berenberg Bank restated a "sell" rating on shares of Kering in a research note on Thursday, October 16th. Finally, Morgan Stanley raised shares of Kering from an "equal weight" rating to an "overweight" rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold".

Kering Stock Down 3.8%

The company's 50 day simple moving average is $31.21 and its 200 day simple moving average is $24.74. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.69.

Kering Company Profile

Kering SA manages the development of a series of renowned houses in fashion, leather goods and jewelry in France, the Asia-Pacific, Western Europe, North America, Japan, and internationally. The company offers ready-to-wear products apparel and accessories for men and women. It also offers leather goods and shoes; watches and jewelry; eyewear products; and fragrances and cosmetics.

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