Ermenegildo Zegna N.V. (ZGN) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analysts maintain a “Moderate Buy” consensus on Ermenegildo Zegna, with four buy ratings, one strong buy, four holds and one sell. The average 12-month price target is $13.76, modestly above the stock’s $12.76 opening price.
• Recent analyst views were mixed: JPMorgan raised its target to $14.00, while BNP Paribas Exane downgraded the stock to “underperform” with a $12.20 target; UBS and TD Cowen also reduced their price targets despite retaining buy ratings.
• Institutional investors own 12.91% of the company, with several firms significantly increasing their holdings. ZGN trades near its 50-day average of $12.83 and below its 200-day average of $13.13, with a one-year range of $8.65 to $15.95.

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) have earned an average rating of "Moderate Buy" from the ten research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.76.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target 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. BNP Paribas Exane lowered Ermenegildo Zegna from a "neutral" rating to an "underperform" rating and set a $12.20 price target for the company. in a research report on Tuesday, August 11th. UBS Group cut their price target on Ermenegildo Zegna from $15.50 to $15.40 and set a "buy" rating on the stock in a report on Monday, October 5th. TD Cowen decreased their target price on Ermenegildo Zegna from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, September 4th. Finally, Morgan Stanley set a $13.00 target price on shares of Ermenegildo Zegna in a research note on Monday, September 7th.

Institutional Trading of Ermenegildo Zegna

Several large investors have recently bought and sold shares of ZGN. Amundi purchased a new position in shares of Ermenegildo Zegna during the 1st quarter worth approximately $10,686,000. Walleye Capital LLC lifted its holdings in shares of Ermenegildo Zegna by 1,938.7% during the 1st quarter. Walleye Capital LLC now owns 665,851 shares of the company's stock valued at $6,938,000 after acquiring an additional 633,191 shares in the last quarter. Bank of America Corp DE grew its position in Ermenegildo Zegna by 483.2% in the first quarter. Bank of America Corp DE now owns 583,360 shares of the company's stock valued at $6,079,000 after acquiring an additional 483,332 shares in the last quarter. Osborne Partners Capital Management LLC increased its position in shares of Ermenegildo Zegna by 34.8% during the first quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company's stock worth $9,820,000 after acquiring an additional 243,137 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in Ermenegildo Zegna by 82.3% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company's stock valued at $3,695,000 after acquiring an additional 160,078 shares in the last quarter. Institutional investors and hedge funds own 12.91% of the company's stock.

Ermenegildo Zegna Trading Down 1.1%

ZGN stock opened at $12.76 on Tuesday. 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 firm's fifty day moving average is $12.83 and its 200 day moving average is $13.13. Ermenegildo Zegna has a one year low of $8.65 and a one year high of $15.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.