Ermenegildo Zegna (NYSE:ZGN) Hits New 52-Week High – Still a Buy?

Ermenegildo Zegna N.V. (NYSE:ZGN)’s share price reached a new 52-week high on Friday . The stock traded as high as $10.39 and last traded at $10.38, with a volume of 466174 shares changing hands. The stock had previously closed at $10.00.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Ermenegildo Zegna in a report on Monday, September 15th. They issued an “overweight” rating and a $11.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of Ermenegildo Zegna in a report on Tuesday, October 14th. They issued a “buy” rating and a $12.90 price target on the stock. UBS Group raised shares of Ermenegildo Zegna to a “hold” rating in a report on Monday, September 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday, October 8th. Finally, Bank of America increased their price target on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.43.

Ermenegildo Zegna Price Performance

The company’s fifty day moving average price is $8.99 and its 200 day moving average price is $8.50. The company has a market capitalization of $4.26 billion, a P/E ratio of 19.74, a PEG ratio of 2.71 and a beta of 0.75. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ZGN. Envestnet Asset Management Inc. bought a new position in Ermenegildo Zegna in the first quarter valued at approximately $959,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Ermenegildo Zegna in the first quarter valued at approximately $229,000. Federated Hermes Inc. bought a new position in Ermenegildo Zegna in the first quarter valued at approximately $1,036,000. Entropy Technologies LP increased its stake in Ermenegildo Zegna by 95.2% in the first quarter. Entropy Technologies LP now owns 19,892 shares of the company’s stock valued at $147,000 after acquiring an additional 9,700 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in Ermenegildo Zegna in the first quarter valued at approximately $186,000. 12.91% of the stock is owned by institutional investors.

Ermenegildo Zegna Company Profile

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.