Ermenegildo Zegna (NYSE:ZGN) Price Target Raised to $17.00

Ermenegildo Zegna (NYSE:ZGN) had its target price increased by investment analysts at TD Cowen from $16.00 to $17.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen‘s price objective would indicate a potential upside of 20.65% from the company’s current price.

ZGN has been the topic of a number of other research reports. BNP Paribas Exane downgraded Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 target price on the stock. in a report on Tuesday, August 11th. Royal Bank Of Canada started coverage on Ermenegildo Zegna in a research report on Tuesday, October 27th. They set an “outperform” rating and a $16.00 price target on the stock. Wall Street Zen cut Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. The Goldman Sachs Group restated a “neutral” rating on shares of Ermenegildo Zegna in a research note on Sunday, October 4th. Finally, UBS Group decreased their price objective on shares of Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating for the company in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.18.

Ermenegildo Zegna Price Performance

Ermenegildo Zegna stock traded down $0.19 during midday trading on Wednesday, hitting $14.09. The stock had a trading volume of 155,458 shares, compared to its average volume of 1,001,726. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.12. Ermenegildo Zegna has a 12 month low of $8.65 and a 12 month high of $15.95. The business has a fifty day moving average price of $12.84 and a 200 day moving average price of $12.52.

Insider Transactions at Ermenegildo Zegna

In other Ermenegildo Zegna news, Director Michele Norsa sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $13.29, for a total value of $106,320.00. Following the sale, the director directly owned 158,348 shares in the company, valued at approximately $2,104,444.92. This trade represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors and hedge funds have recently modified their holdings of ZGN. Voya Investment Management LLC lifted its position in Ermenegildo Zegna by 175.8% during the 3rd quarter. Voya Investment Management LLC now owns 333,944 shares of the company’s stock worth $4,174,000 after acquiring an additional 212,865 shares during the last quarter. State of Wyoming raised its stake in Ermenegildo Zegna by 141.2% during the third quarter. State of Wyoming now owns 25,518 shares of the company’s stock worth $319,000 after acquiring an additional 14,939 shares in the last quarter. GAMMA Investing LLC grew 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 buying an additional 2,560 shares during the last quarter. Engineers Gate Manager LP bought a new position in Ermenegildo Zegna in the 2nd quarter valued at $601,000. Finally, Wellington Management Group LLP bought a new position in shares of Ermenegildo Zegna in the second quarter worth about $1,890,000. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna Group is an Italian luxury company focused on menswear, apparel, accessories and related products. Its portfolio includes the Zegna and Thom Browne brands, as well as Tom Ford Fashion, which it operates under a long-term agreement with Estée Lauder Companies. Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile manufacturer and developed into a global luxury business. Its activities include designing, producing and selling clothing and accessories through retail stores, e-commerce and wholesale channels.