Ermenegildo Zegna N.V. (NYSE:ZGN) Receives Average Rating of “Hold” from Brokerages

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have earned an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $10.3714.

A number of equities research analysts have weighed in on ZGN shares. UBS Group upped their target price on Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Bank of America upped their price objective on Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. JPMorgan Chase & Co. started coverage on Ermenegildo Zegna in a report on Monday, September 15th. They set an “overweight” rating and a $11.00 target price on the stock. Oddo Bhf set a $11.50 price target on shares of Ermenegildo Zegna in a report on Wednesday, September 17th. Finally, Jefferies Financial Group initiated coverage on shares of Ermenegildo Zegna in a research note on Tuesday, October 14th. They issued a “buy” rating and a $12.90 price objective on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZGN. Goldman Sachs Group Inc. raised its position in shares of Ermenegildo Zegna by 22.7% during the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock worth $995,000 after purchasing an additional 24,862 shares during the period. Federated Hermes Inc. purchased a new position in Ermenegildo Zegna in the 1st quarter worth about $1,036,000. Nuveen LLC acquired a new stake in Ermenegildo Zegna during the 1st quarter worth about $1,498,000. Cubist Systematic Strategies LLC lifted its stake in Ermenegildo Zegna by 399.1% during the first quarter. Cubist Systematic Strategies LLC now owns 419,379 shares of the company’s stock valued at $3,103,000 after buying an additional 335,350 shares in the last quarter. Finally, Graham Capital Management L.P. boosted its holdings in shares of Ermenegildo Zegna by 480.7% in the first quarter. Graham Capital Management L.P. now owns 142,049 shares of the company’s stock worth $1,051,000 after buying an additional 117,589 shares during the period. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Performance

ZGN stock opened at $9.80 on Tuesday. The company has a 50-day simple moving average of $9.61 and a 200 day simple moving average of $8.88. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18. Ermenegildo Zegna has a fifty-two week low of $6.05 and a fifty-two week high of $10.70.

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.