Safran (OTCMKTS:SAFRY) Sets New 12-Month Low – Time to Sell?

Shares of Safran SA (OTCMKTS:SAFRY) hit a new 52-week low on Friday. The stock traded as low as $76.14 and last traded at $76.2060, with a volume of 8,166 shares trading hands. The stock had previously closed at $87.31.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SAFRY shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Safran in a research note on Wednesday, July 29th. Citigroup reaffirmed a “neutral” rating on shares of Safran in a report on Monday, July 13th. DZ Bank cut Safran from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Safran in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Safran in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Safran Trading Down 8.5%

The firm has a 50-day moving average of $94.40 and a 200 day moving average of $92.06.

About Safran

Safran SA is a French aerospace and defense company that develops and manufactures equipment, systems and services for commercial aviation, military aircraft, helicopters and space applications. Its activities include aircraft engines, helicopter engines, landing gear, wheels and carbon brakes, engine nacelles, flight-control systems, avionics, navigation equipment and other aerospace systems.

Safran operates several major joint ventures and partnerships, including CFM International with GE Aerospace, which produces the CFM56 and LEAP commercial aircraft engines.