Ermenegildo Zegna (NYSE:ZGN) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Ermenegildo Zegna (NYSE: ZGN) from a "buy" to a "hold" rating in a report issued Sunday.
• The company missed Q1 expectations, reporting $0.15 EPS vs. $0.26 expected and revenue of $577.8M vs. $1.17B expected.
• Analyst coverage is mixed—four Buys and three Holds—with a MarketBeat consensus of "Moderate Buy" and an average price target of $11.73 while the stock trades near $11.99.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

ZGN has been the subject of a number of other reports. 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 research note on Thursday, February 5th. Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a research note on Thursday, February 12th. They issued an "equal weight" rating and a $11.00 target price for the company. Bank of America reaffirmed a "neutral" rating and issued a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a research note on Friday, January 16th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.73.

Ermenegildo Zegna Stock Performance

NYSE:ZGN opened at $11.99 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. Ermenegildo Zegna has a 1 year low of $7.61 and a 1 year high of $12.40. The firm has a 50 day moving average of $10.88 and a 200-day moving average of $10.43.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) last announced its earnings results on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.11). The company had revenue of $577.83 million for the quarter, compared to analysts' expectations of $1.17 billion. Equities research analysts expect that Ermenegildo Zegna will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ermenegildo Zegna

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at about $25,000. California State Teachers Retirement System bought a new position in Ermenegildo Zegna in the 2nd quarter valued at about $33,000. Caitong International Asset Management Co. Ltd raised its holdings in Ermenegildo Zegna by 11,382.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company's stock valued at $40,000 after acquiring an additional 3,870 shares during the period. Lazard Asset Management LLC bought a new position in Ermenegildo Zegna in the 2nd quarter valued at about $54,000. Finally, Parallel Advisors LLC bought a new position in Ermenegildo Zegna in the 4th quarter valued at about $69,000. 12.91% of the stock is owned by institutional investors.

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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