Ermenegildo Zegna N.V. (NYSE:ZGN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $13.42.

Several brokerages have weighed in on ZGN. JPMorgan Chase & Co. upped their price target on Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Morgan Stanley set a $13.00 target price on shares of Ermenegildo Zegna in a report on Monday, September 7th. BNP Paribas Exane cut shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price target for the company. in a report on Tuesday, August 11th. The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and raised their price objective for the company from $13.30 to $14.00 in a report on Wednesday, June 17th. Finally, TD Cowen lowered their target price on shares of Ermenegildo Zegna from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, September 4th.

Institutional Investors Weigh In On Ermenegildo Zegna

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi purchased a new position in Ermenegildo Zegna during the 1st quarter worth $10,686,000. Walleye Capital LLC boosted its holdings in shares of Ermenegildo Zegna by 1,938.7% in the first quarter. Walleye Capital LLC now owns 665,851 shares of the company’s stock valued at $6,938,000 after acquiring an additional 633,191 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Ermenegildo Zegna by 483.2% during the first quarter. Bank of America Corp DE now owns 583,360 shares of the company’s stock worth $6,079,000 after acquiring an additional 483,332 shares during the period. Osborne Partners Capital Management LLC increased its stake in shares of Ermenegildo Zegna by 34.8% during the first quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company’s stock worth $9,820,000 after acquiring an additional 243,137 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in Ermenegildo Zegna by 82.3% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company’s stock worth $3,695,000 after purchasing an additional 160,078 shares in the last quarter. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Up 0.4%

NYSE:ZGN opened at $12.49 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.47. The stock’s fifty day moving average is $13.49 and its two-hundred day moving average is $12.81. Ermenegildo Zegna has a 52 week low of $8.64 and a 52 week high of $15.95.

About Ermenegildo Zegna

Ermenegildo Zegna Group is an Italian luxury goods company founded in 1910 by Ermenegildo Zegna in Trivero, Italy. The group began as a wool mill and developed into a vertically integrated luxury fashion business, combining textile manufacturing with the design, production and distribution of branded apparel and accessories.

The company operates the ZEGNA brand, which offers menswear, made-to-measure clothing, footwear, leather goods, accessories and fabrics. Its portfolio also includes Thom Browne, a luxury fashion brand known for tailored clothing and accessories, and TOM FORD FASHION, covering apparel, accessories and related fashion products.