Ermenegildo Zegna N.V. (NYSE:ZGN) Stock Has Consensus Price Target of $14.18 According to Brokerages

Key Points

• Analysts rate Ermenegildo Zegna a “Moderate Buy” overall: Of 11 covering analysts, five recommend buying, one strongly recommends buying, four say hold, and one says sell. The average 12-month price target is $14.18.
• Recent broker views were mixed but generally positive: TD Cowen raised its target to $17 and RBC initiated coverage at “outperform” with a $16 target, while UBS trimmed its target to $15.40 and Wall Street Zen downgraded the stock to “hold.”
• ZGN traded at $13.79, up 1.6% on Friday. Director Michele Norsa also sold 8,000 shares, reducing his stake by 4.81%.

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.18.

A number of brokerages have commented on ZGN. TD Cowen raised their price objective on Ermenegildo Zegna from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley set a $13.00 price objective on shares of Ermenegildo Zegna in a research note on Monday, September 7th. Royal Bank Of Canada began coverage on shares of Ermenegildo Zegna in a report on Tuesday, October 27th. They set an "outperform" rating and a $16.00 price target on the stock. UBS Group cut their price objective on Ermenegildo Zegna from $15.50 to $15.40 and set a "buy" rating for the company in a report on Monday, October 5th. Finally, Wall Street Zen lowered Ermenegildo Zegna from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th.

Ermenegildo Zegna Trading Up 1.6%

NYSE ZGN traded up $0.21 on Friday, hitting $13.79. 792,500 shares of the stock were exchanged, compared to its average volume of 1,267,662. Ermenegildo Zegna has a 52-week low of $8.65 and a 52-week high of $15.95. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.12. The company's 50-day moving average price is $12.91 and its two-hundred day moving average price is $12.59.

Insider Activity at Ermenegildo Zegna

In related news, Director Michele Norsa sold 8,000 shares of the 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 transaction, the director owned 158,348 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Ermenegildo Zegna

Hedge funds have recently bought and sold shares of the business. Amundi bought a new stake in shares of Ermenegildo Zegna during the 1st quarter worth about $10,686,000. Walleye Capital LLC lifted its stake in shares of Ermenegildo Zegna by 1,938.7% in the first quarter. Walleye Capital LLC now owns 665,851 shares of the company's stock worth $6,938,000 after buying an additional 633,191 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Ermenegildo Zegna by 483.2% in the first quarter. Bank of America Corp DE now owns 583,360 shares of the company's stock worth $6,079,000 after buying an additional 483,332 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Ermenegildo Zegna by 175.8% in the third quarter. Voya Investment Management LLC now owns 333,944 shares of the company's stock worth $4,174,000 after buying an additional 212,865 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Ermenegildo Zegna during the 2nd quarter worth $1,890,000. 12.91% of the stock is owned by institutional investors and hedge funds.

About Ermenegildo Zegna

Ermenegildo Zegna Group is an Italian luxury company focused on menswear, apparel, accessories and related products. Its portfolio includes the Zegna and Thom Browne brands, as well as Tom Ford Fashion, which it operates under a long-term agreement with Estée Lauder Companies. Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile manufacturer and developed into a global luxury business. Its activities include designing, producing and selling clothing and accessories through retail stores, e-commerce and wholesale channels.

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