Ermenegildo Zegna (NYSE:ZGN) Reaches New 1-Year High – Time to Buy?
by Danessa Lincoln · The Markets DailyErmenegildo Zegna N.V. (NYSE:ZGN – Get Free Report)’s share price reached a new 52-week high on Friday . The stock traded as high as $11.20 and last traded at $10.9820, with a volume of 16576 shares traded. The stock had previously closed at $10.98.
Analyst Ratings Changes
A number of research firms have weighed in on ZGN. UBS Group upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price objective for the company in a research note on Thursday, February 5th. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research report on Thursday. They issued an “equal weight” rating and a $11.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday, January 21st. Bank of America reaffirmed a “neutral” rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Finally, Sanford C. Bernstein started coverage on Ermenegildo Zegna in a research note on Tuesday, November 25th. They issued an “outperform” rating and a $13.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.51.
Get Our Latest Analysis on Ermenegildo Zegna
Ermenegildo Zegna Stock Performance
The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average of $10.21 and a 200 day moving average of $9.65.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC purchased a new position in shares of Ermenegildo Zegna during the third quarter valued at about $25,000. California State Teachers Retirement System purchased a new position in Ermenegildo Zegna during the 2nd quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Ermenegildo Zegna by 11,382.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock valued at $40,000 after acquiring an additional 3,870 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Ermenegildo Zegna in the second quarter valued at $54,000. Finally, Lazard Asset Management LLC bought a new stake in Ermenegildo Zegna in the second quarter worth $54,000. Institutional investors own 12.91% of the company’s stock.
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.