Ermenegildo Zegna (NYSE:ZGN) Stock Rating Upgraded by BNP Paribas Exane

Ermenegildo Zegna (NYSE:ZGN) was upgraded by equities researchers at BNP Paribas Exane to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. TD Cowen increased their price target on Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen upgraded Ermenegildo Zegna from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. UBS Group reaffirmed a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Weiss Ratings upgraded Ermenegildo Zegna from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.13.

Ermenegildo Zegna Stock Down 0.6%

NYSE:ZGN opened at $14.07 on Tuesday. The firm has a 50-day moving average of $14.07 and a two-hundred day moving average of $12.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. Ermenegildo Zegna has a 1-year low of $7.85 and a 1-year high of $15.95.

Institutional Trading of Ermenegildo Zegna

Hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB lifted its position in shares of Ermenegildo Zegna by 21.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock valued at $492,000 after acquiring an additional 6,800 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Ermenegildo Zegna by 28.1% in the second quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company’s stock valued at $564,000 after purchasing an additional 9,492 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Ermenegildo Zegna by 483.2% in the first quarter. Bank of America Corp DE now owns 583,360 shares of the company’s stock valued at $6,079,000 after purchasing an additional 483,332 shares in the last quarter. Amundi purchased a new stake in shares of Ermenegildo Zegna in the first quarter valued at $10,686,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Ermenegildo Zegna by 48.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock worth $29,000 after buying an additional 908 shares during the period. 12.91% of the stock is currently owned by institutional investors.

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.