TD Cowen assumed coverage on shares of Ermenegildo Zegna (NYSE:ZGN – Free Report) in a research report released on Friday,Zacks reports. The firm issued a strong-buy rating on the stock.
Other analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Ermenegildo Zegna from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 3rd. UBS Group cut their price objective on shares of Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating on the stock in a research report on Monday, October 5th. Wall Street Zen cut shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. BNP Paribas Exane downgraded 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 report on Tuesday, August 11th. Finally, Morgan Stanley set a $13.00 target price on shares of Ermenegildo Zegna in a research report on Monday, September 7th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.08.
Check Out Our Latest Stock Report on Ermenegildo Zegna
Ermenegildo Zegna Trading Up 0.3%
NYSE ZGN opened at $13.45 on Friday. Ermenegildo Zegna has a 52 week low of $8.65 and a 52 week high of $15.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.47. The stock’s 50 day moving average price is $12.78 and its two-hundred day moving average price is $12.39.
Insider Transactions at Ermenegildo Zegna
In other Ermenegildo Zegna news, Director Michele Norsa sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $13.29, for a total value of $106,320.00. Following the sale, the director owned 158,348 shares in the company, valued at $2,104,444.92. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in ZGN. State of Wyoming increased its holdings in shares of Ermenegildo Zegna by 141.2% in the third quarter. State of Wyoming now owns 25,518 shares of the company’s stock valued at $319,000 after purchasing an additional 14,939 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Ermenegildo Zegna by 216.9% in the third quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock valued at $47,000 after purchasing an additional 2,560 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Ermenegildo Zegna during the 2nd quarter worth about $601,000. Wellington Management Group LLP acquired a new stake in shares of Ermenegildo Zegna during the 2nd quarter worth about $1,890,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Ermenegildo Zegna by 21.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock worth $492,000 after buying an additional 6,800 shares during the period. 12.91% of the stock is currently owned by institutional investors.
About Ermenegildo Zegna
Ermenegildo Zegna N.V. is a global luxury-goods group specializing in menswear, accessories and related lifestyle products. Its portfolio includes the Zegna brand, known for tailored clothing, ready-to-wear apparel, footwear, leather goods and fabrics, as well as Thom Browne, a luxury fashion brand offering menswear, womenswear, accessories and footwear.
The company also operates the TOM FORD FASHION business, which includes luxury apparel, accessories and footwear under the TOM FORD brand.
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