Ermenegildo Zegna (NYSE:ZGN) Upgraded to “Strong Sell” at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Ermenegildo Zegna (NYSE:ZGN) to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the stock. TD Cowen lifted their price target on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Ermenegildo Zegna from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. UBS Group reaffirmed a “buy” rating and set a $14.50 price objective on shares of Ermenegildo Zegna in a research report on Friday, May 1st. The Goldman Sachs Group downgraded shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lifted their target price for the company from $13.30 to $14.00 in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. boosted their target price on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.13.

Ermenegildo Zegna Stock Down 0.6%

Shares of NYSE:ZGN opened at $14.07 on Tuesday. Ermenegildo Zegna has a 12-month low of $7.85 and a 12-month high of $15.95. The business has a 50-day moving average price of $14.07 and a 200 day moving average price of $12.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Hedge Funds Weigh In On Ermenegildo Zegna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZGN. EverSource Wealth Advisors LLC raised its stake in shares of Ermenegildo Zegna by 48.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock valued at $29,000 after acquiring an additional 908 shares in the last quarter. California State Teachers Retirement System acquired a new position in Ermenegildo Zegna during the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd grew its stake in Ermenegildo Zegna by 11,382.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock worth $40,000 after purchasing an additional 3,870 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Ermenegildo Zegna during the 2nd quarter worth about $54,000. Finally, Legal & General Group Plc purchased a new stake in Ermenegildo Zegna during the 2nd quarter worth about $59,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

About Ermenegildo Zegna

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.