Ermenegildo Zegna (NYSE:ZGN) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Ermenegildo Zegna (NYSE:ZGN) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Wednesday, January 21st. Morgan Stanley initiated coverage on Ermenegildo Zegna in a research note on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price target for the company. UBS Group upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target for the company in a research note on Thursday, February 5th. Finally, Bank of America reiterated a “neutral” rating and set a $11.20 price target (down from $11.50) on shares of Ermenegildo Zegna in a research note on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.73.

Ermenegildo Zegna Trading Up 5.0%

ZGN stock opened at $12.12 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. Ermenegildo Zegna has a 52-week low of $6.82 and a 52-week high of $12.19. The business has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $10.36.

Ermenegildo Zegna (NYSE:ZGN) last released its quarterly earnings results on Friday, March 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The business had revenue of $577.83 million during the quarter, compared to analyst estimates of $1.17 billion. Equities analysts forecast that Ermenegildo Zegna will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vident Advisory LLC boosted its stake in shares of Ermenegildo Zegna by 6.5% in the 4th quarter. Vident Advisory LLC now owns 18,001 shares of the company’s stock worth $185,000 after buying an additional 1,097 shares during the last quarter. Occudo Quantitative Strategies LP raised its holdings in shares of Ermenegildo Zegna by 72.9% in the 4th quarter. Occudo Quantitative Strategies LP now owns 88,433 shares of the company’s stock worth $906,000 after purchasing an additional 37,273 shares during the period. Millennium Management LLC raised its holdings in shares of Ermenegildo Zegna by 73.7% in the 4th quarter. Millennium Management LLC now owns 1,188,887 shares of the company’s stock worth $12,186,000 after purchasing an additional 504,546 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Ermenegildo Zegna in the 4th quarter worth approximately $1,396,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Ermenegildo Zegna by 527.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 86,439 shares of the company’s stock worth $886,000 after purchasing an additional 72,671 shares during the period. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

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.