Ermenegildo Zegna (NYSE:ZGN) Coverage Initiated at TD Cowen

Analysts at TD Cowen started coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $10.00 price target on the stock. TD Cowen’s target price suggests a potential upside of 12.17% from the stock’s previous close.

Several other brokerages have also weighed in on ZGN. Morgan Stanley initiated coverage on shares of Ermenegildo Zegna in a research report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price objective on the stock. BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd. Finally, Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and decreased their target price for the company from $9.40 to $8.90 in a research report on Thursday, January 16th.

Ermenegildo Zegna Price Performance

Shares of NYSE ZGN opened at $8.92 on Tuesday. Ermenegildo Zegna has a 12 month low of $7.13 and a 12 month high of $15.26. The stock has a 50 day moving average of $8.56 and a 200-day moving average of $8.79. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24.

Institutional Trading of Ermenegildo Zegna

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Ermenegildo Zegna in the fourth quarter valued at approximately $28,000. Entropy Technologies LP acquired a new position in Ermenegildo Zegna in the 4th quarter valued at $84,000. Mirabella Financial Services LLP acquired a new position in Ermenegildo Zegna in the 4th quarter valued at $87,000. Verition Fund Management LLC bought a new stake in shares of Ermenegildo Zegna during the 3rd quarter valued at $149,000. Finally, Vident Advisory LLC acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter worth $126,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

About Ermenegildo Zegna

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.