Ermenegildo Zegna N.V. (NYSE:ZGN) Stock Has Average Price Target of $13.42

Key Points

• Analysts have a consensus “Hold” rating on Ermenegildo Zegna, with five buys, four holds and one sell among 10 firms. The average 12-month price target is $13.42, compared with the stock’s recent price of $12.49.
• Recent analyst actions were mixed: TD Cowen cut its target to $15 while maintaining a buy rating, JPMorgan raised its target to $14 with an overweight rating, and BNP Paribas Exane downgraded the stock to underperform with a $12.20 target.
• Institutional ownership stands at 12.91%, with several hedge funds increasing or initiating positions. ZGN recently traded within a $8.64–$15.95 12-month range and has relatively low leverage, with a debt-to-equity ratio of 0.12.

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the ten research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $13.42.

Several analysts have recently weighed in on ZGN shares. TD Cowen lowered their price objective on shares of Ermenegildo Zegna from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, September 4th. JPMorgan Chase & Co. raised their price target on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Morgan Stanley set a $13.00 price objective on Ermenegildo Zegna in a research report on Monday, September 7th. Weiss Ratings downgraded Ermenegildo Zegna from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 3rd. Finally, BNP Paribas Exane downgraded shares of Ermenegildo Zegna from a "neutral" rating to an "underperform" rating and set a $12.20 price target on the stock. in a research note on Tuesday, August 11th.

Hedge Funds Weigh In On Ermenegildo Zegna

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Ermenegildo Zegna by 48.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company's stock valued at $29,000 after purchasing an additional 908 shares in the last quarter. Handelsbanken Fonder AB increased its stake in 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 in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Ermenegildo Zegna by 28.1% during the second quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company's stock valued at $564,000 after acquiring an additional 9,492 shares during the last quarter. State of Wyoming purchased a new stake in shares of Ermenegildo Zegna during the first quarter worth $150,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Ermenegildo Zegna in the fourth quarter valued at about $297,000. Hedge funds and other institutional investors own 12.91% of the company's stock.

Ermenegildo Zegna Stock Up 0.4%

Shares of Ermenegildo Zegna stock opened at $12.49 on Friday. The company's 50-day moving average price is $13.49 and its 200-day moving average price is $12.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.80. Ermenegildo Zegna has a 12-month low of $8.64 and a 12-month high of $15.95.

About Ermenegildo Zegna

Ermenegildo Zegna Group is an Italian luxury goods company founded in 1910 by Ermenegildo Zegna in Trivero, Italy. The group began as a wool mill and developed into a vertically integrated luxury fashion business, combining textile manufacturing with the design, production and distribution of branded apparel and accessories.

The company operates the ZEGNA brand, which offers menswear, made-to-measure clothing, footwear, leather goods, accessories and fabrics. Its portfolio also includes Thom Browne, a luxury fashion brand known for tailored clothing and accessories, and TOM FORD FASHION, covering apparel, accessories and related fashion products.

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