Ermenegildo Zegna (NYSE:ZGN) Cut to “Hold” at Wall Street Zen

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

ZGN has been the subject of several other research reports. Weiss Ratings raised shares of Ermenegildo Zegna from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. BNP Paribas Exane cut shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price target on the stock. in a research report on Tuesday, August 11th. JPMorgan Chase & Co. lifted 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. UBS Group reissued a “buy” rating and issued a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. Finally, TD Cowen upped their price objective on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ermenegildo Zegna presently has a consensus rating of “Hold” and a consensus price target of $13.13.

Ermenegildo Zegna Stock Down 2.8%

Shares of NYSE:ZGN opened at $13.37 on Friday. The firm’s 50 day simple moving average is $14.00 and its 200 day simple moving average is $12.39. 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 fifty-two week low of $7.85 and a fifty-two week high of $15.95.

Institutional Trading of Ermenegildo Zegna

Several hedge funds have recently bought and sold shares of ZGN. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $29,000 after buying an additional 908 shares during the period. California State Teachers Retirement System acquired a new stake in shares of Ermenegildo Zegna during the second quarter worth $33,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Ermenegildo Zegna by 11,382.4% during the fourth 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 period. Lazard Asset Management LLC acquired a new stake in shares of Ermenegildo Zegna during the second quarter worth $54,000. Finally, Legal & General Group Plc bought a new stake in Ermenegildo Zegna in the 2nd quarter valued at $59,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.