Ermenegildo Zegna (NYSE:ZGN) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Ermenegildo Zegna (NYSE:ZGN) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other brokerages have also issued reports on ZGN. JPMorgan Chase & Co. boosted their price objective on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group cut Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. BNP Paribas Exane downgraded Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price objective for the company. in a report on Tuesday. TD Cowen lifted their target price on Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, UBS Group reissued a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.13.

Ermenegildo Zegna Trading Down 1.0%

Shares of ZGN stock opened at $13.77 on Friday. Ermenegildo Zegna has a 12-month low of $7.85 and a 12-month high of $15.95. The firm has a fifty day moving average of $14.03 and a 200-day moving average of $12.34. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Ermenegildo Zegna by 48.3% in 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 period. California State Teachers Retirement System bought a new position in Ermenegildo Zegna during the second quarter worth about $33,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 acquiring an additional 3,870 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Ermenegildo Zegna in the 2nd quarter valued at $54,000. Finally, Parallel Advisors LLC bought a new stake in Ermenegildo Zegna in the 4th quarter valued at $69,000. 12.91% of the stock is currently owned by institutional investors.

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.