Ermenegildo Zegna (NYSE:ZGN) Stock Rating Lowered by Wall Street Zen

by · The Cerbat Gem

Ermenegildo Zegna (NYSE:ZGN – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. UBS Group reiterated a “buy” rating and set a $14.50 price objective on shares of Ermenegildo Zegna in a research note on Friday, May 1st. BNP Paribas Exane cut shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 target price for the company. in a research note on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. TD Cowen upped their price target on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Ermenegildo Zegna from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.13.

Read Our Latest Research Report on ZGN

Ermenegildo Zegna Trading Up 0.1%

NYSE ZGN opened at $13.77 on Friday. The stock’s 50 day moving average price is $14.03 and its two-hundred day moving average price is $12.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59. Ermenegildo Zegna has a 52 week low of $7.85 and a 52 week high of $15.95.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZGN. EverSource Wealth Advisors LLC boosted its holdings in shares of Ermenegildo Zegna by 48.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock worth $29,000 after acquiring an additional 908 shares during the period. California State Teachers Retirement System bought a new position in shares of Ermenegildo Zegna during the second quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd increased its stake 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 purchasing an additional 3,870 shares during the period. Lazard Asset Management LLC acquired a new stake in Ermenegildo Zegna during the 2nd quarter worth approximately $54,000. Finally, Legal & General Group Plc acquired a new stake in Ermenegildo Zegna during the 2nd quarter worth approximately $59,000. 12.91% of the stock is owned by institutional investors.

About Ermenegildo Zegna

(Get Free Report)

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.

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