Brokerages Set Ermenegildo Zegna N.V. (NYSE:ZGN) Target Price at $11.73

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $11.7286.

A number of brokerages have recently issued reports on ZGN. Bank of America restated a “neutral” rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a research report on Friday, January 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Wednesday, January 21st. Morgan Stanley initiated coverage on shares of Ermenegildo Zegna in a research report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price objective on the stock. Finally, UBS Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 target price for the company in a report on Thursday, February 5th.

Ermenegildo Zegna Price Performance

Ermenegildo Zegna stock opened at $10.54 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. Ermenegildo Zegna has a fifty-two week low of $6.05 and a fifty-two week high of $11.93. The stock has a 50-day simple moving average of $10.36 and a 200-day simple moving average of $10.23.

Ermenegildo Zegna (NYSE:ZGN) last released its quarterly earnings results on Friday, March 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The company had revenue of $577.83 million during the quarter, compared to analysts’ expectations of $1.17 billion. As a group, research analysts forecast that Ermenegildo Zegna will post 0.35 EPS for the current year.

Institutional Trading of Ermenegildo Zegna

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC purchased a new position in shares of Ermenegildo Zegna in the 3rd quarter valued at approximately $25,000. California State Teachers Retirement System purchased a new stake in shares of Ermenegildo Zegna during the second quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd raised 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 last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Ermenegildo Zegna during the second quarter worth $54,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Ermenegildo Zegna during the second quarter worth $54,000. 12.91% of the stock is owned by hedge funds and other institutional investors.

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.