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

Ermenegildo Zegna (NYSE:ZGN) was upgraded by analysts at BNP Paribas Exane to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

ZGN has been the subject of several other reports. TD Cowen increased their target price on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, July 24th. UBS Group reaffirmed a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their price target for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. Weiss Ratings raised shares of Ermenegildo Zegna from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.13.

Ermenegildo Zegna Trading Down 0.6%

NYSE ZGN opened at $14.07 on Tuesday. The stock’s 50-day moving average price is $14.07 and its 200-day moving average price is $12.30. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15. Ermenegildo Zegna has a 52 week low of $7.85 and a 52 week high of $15.95.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZGN. EverSource Wealth Advisors LLC boosted its holdings in shares of Ermenegildo Zegna by 48.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock valued at $29,000 after purchasing an additional 908 shares during the last quarter. Vident Advisory LLC grew its position in shares of Ermenegildo Zegna by 6.5% during the fourth quarter. Vident Advisory LLC now owns 18,001 shares of the company’s stock valued at $185,000 after purchasing an additional 1,097 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Ermenegildo Zegna by 12.9% in the third quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company’s stock worth $109,000 after purchasing an additional 1,323 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Ermenegildo Zegna by 3.3% in the fourth quarter. Deutsche Bank AG now owns 57,477 shares of the company’s stock worth $589,000 after purchasing an additional 1,822 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Ermenegildo Zegna by 73.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company’s stock worth $61,000 after purchasing an additional 3,033 shares during the last quarter. 12.91% of the stock is owned by hedge funds and other institutional investors.

Ermenegildo Zegna Company Profile

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.