Ermenegildo Zegna N.V. (NYSE:ZGN) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Ermenegildo Zegna has a consensus “Hold” rating from 10 brokerages: five analysts rate it a buy, four a hold and one a sell. The average 12-month price target is $13.13.
• Recent analyst actions were mixed: TD Cowen raised its target to $17 with a buy rating, JPMorgan increased its target to $14 with an overweight rating, while Goldman Sachs and Wall Street Zen downgraded the stock to neutral and hold, respectively.
• Institutional investors own 12.91% of Zegna shares, with Bank of America significantly increasing its stake. The stock opened at $13.75, compared with a 52-week range of $8.23 to $15.95.

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) has been given a consensus recommendation of "Hold" by the ten brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.13.

Several equities analysts have weighed in on the company. TD Cowen lifted their target price on Ermenegildo Zegna from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Ermenegildo Zegna from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, June 30th. The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a "buy" rating to a "neutral" rating and upped their price objective for the company from $13.30 to $14.00 in a research note on Wednesday, June 17th. Finally, Wall Street Zen downgraded shares of Ermenegildo Zegna from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th.

Institutional Trading of Ermenegildo Zegna

Several hedge funds and other institutional investors have recently modified their holdings of ZGN. California State Teachers Retirement System increased its position in Ermenegildo Zegna by 145.3% in the 2nd quarter. California State Teachers Retirement System now owns 8,203 shares of the company's stock worth $107,000 after purchasing an additional 4,859 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Ermenegildo Zegna during the 2nd quarter valued at about $1,890,000. Handelsbanken Fonder AB lifted 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 valued at $492,000 after buying an additional 6,800 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Ermenegildo Zegna by 28.1% during the 2nd quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company's stock valued at $564,000 after buying an additional 9,492 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Ermenegildo Zegna by 483.2% in the 1st quarter. Bank of America Corp DE now owns 583,360 shares of the company's stock valued at $6,079,000 after buying an additional 483,332 shares in the last quarter. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Ermenegildo Zegna Stock Up 0.1%

NYSE:ZGN opened at $13.75 on Monday. The business's fifty day moving average price is $13.88 and its 200 day moving average price is $12.66. 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 1-year low of $8.23 and a 1-year high of $15.95.

About Ermenegildo Zegna

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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