Hermes International (OTCMKTS:HESAY) Hits New 52-Week Low - Here's Why

Key Points

• Hermes International shares fell 3.8%, reaching a new 52-week low of $139.10 and closing near that level at $139.30, well below the prior close of $152.84.
• Recent analyst sentiment has weakened, with UBS and Goldman Sachs assigning sell ratings and Zacks Research issuing a strong sell; MarketBeat’s overall consensus rating is currently “Hold.”
• The stock is trading below both its 50-day moving average of $161.36 and its 200-day moving average of $179.78, signaling continued downward momentum.

Hermes International SA - Unsponsored ADR (OTCMKTS:HESAY - Get Free Report) shares hit a new 52-week low during trading on Friday. The company traded as low as $139.10 and last traded at $139.30, with a volume of 11,126 shares. The stock had previously closed at $152.84.

Analyst Upgrades and Downgrades

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

Hermes International Trading Down 3.8%

The company's fifty day simple moving average is $161.36 and its 200-day simple moving average is $179.78.

About Hermes International

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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