Ermenegildo Zegna N.V. (NYSE:ZGN) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $13.87.

ZGN has been the subject of a number of recent research reports. TD Cowen boosted their price target on shares of Ermenegildo Zegna from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. UBS Group dropped their price objective on shares of Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating on the stock in a research note on Monday, October 5th. BNP Paribas Exane cut shares of 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, August 11th. Finally, Wall Street Zen downgraded shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th.

Hedge Funds Weigh In On Ermenegildo Zegna

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Ermenegildo Zegna by 216.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock valued at $47,000 after purchasing an additional 2,560 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Ermenegildo Zegna during the 2nd quarter worth approximately $601,000. Wellington Management Group LLP purchased a new stake in shares of Ermenegildo Zegna in the second quarter worth approximately $1,890,000. Handelsbanken Fonder AB raised its stake in shares of Ermenegildo Zegna by 21.9% in the second quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock worth $492,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in shares of Ermenegildo Zegna by 28.1% during the second quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company’s stock valued at $564,000 after buying an additional 9,492 shares during the last quarter. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Down 0.6%

Shares of NYSE:ZGN opened at $13.40 on Tuesday. 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 twelve month low of $8.65 and a twelve month high of $15.95. The stock’s 50 day moving average is $12.79 and its 200-day moving average is $12.33.

About Ermenegildo Zegna

Ermenegildo Zegna N.V. is a global luxury-goods group specializing in menswear, accessories and related lifestyle products. Its portfolio includes the Zegna brand, known for tailored clothing, ready-to-wear apparel, footwear, leather goods and fabrics, as well as Thom Browne, a luxury fashion brand offering menswear, womenswear, accessories and footwear.

The company also operates the TOM FORD FASHION business, which includes luxury apparel, accessories and footwear under the TOM FORD brand.