Ermenegildo Zegna (NYSE:ZGN) Stock Falls 3.3% – What’s Next?

Ermenegildo Zegna N.V. (NYSE:ZGN)’s stock price traded down 3.3% during trading on Friday. The stock traded as low as $12.90 and last traded at $12.9090. Approximately 1,111,391 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 985,841 shares. The stock had previously closed at $13.35.

Analysts Set New Price Targets

Several analysts recently weighed in on ZGN shares. TD Cowen dropped their price target on Ermenegildo Zegna from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 4th. JPMorgan Chase & Co. boosted their price target on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. HSBC began coverage on Ermenegildo Zegna in a report on Tuesday, October 6th. They issued a “buy” rating and a $16.00 price objective on the stock. Wall Street Zen downgraded Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, BNP Paribas Exane cut shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 target price for the company. in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.76.

Ermenegildo Zegna Stock Down 3.3%

The firm has a 50 day moving average price of $12.87 and a two-hundred day moving average price of $13.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.80.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Ermenegildo Zegna by 216.9% during the third quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock worth $47,000 after purchasing an additional 2,560 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Ermenegildo Zegna during the 2nd quarter valued at about $601,000. Wellington Management Group LLP purchased a new position in shares of Ermenegildo Zegna during the 2nd quarter valued at about $1,890,000. Handelsbanken Fonder AB grew its position in Ermenegildo Zegna by 21.9% during the second quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock valued at $492,000 after acquiring an additional 6,800 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its position in Ermenegildo Zegna by 28.1% in the 2nd quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company’s stock worth $564,000 after purchasing an additional 9,492 shares during the period. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna Group is an Italy-based luxury goods company specializing in high-end menswear, tailoring, fabrics and accessories. Its product range includes suits, ready-to-wear clothing, footwear, leather goods and other lifestyle products, with a heritage rooted in the production of fine wool and luxury textiles.

The company was founded in 1910 by Ermenegildo Zegna in Trivero, Italy. It has developed from a textile manufacturer into a global luxury group with directly operated stores, wholesale distribution and digital commerce serving customers across Europe, North America, Asia and other international markets.

The group’s portfolio includes the ZEGNA brand, known for contemporary luxury menswear and made-to-measure services, as well as Thom Browne, a luxury fashion brand recognized for its distinctive American-inspired designs.