Ermenegildo Zegna (NYSE:ZGN) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• Ermenegildo Zegna's stock has been restated with a "hold (C)" rating by Weiss Ratings, reflecting ongoing analyst caution.
• Analysts have varied views on the stock, with two rating it as a buy, four as a hold, and one as a sell, indicating mixed perceptions of its performance.
• The stock's current trading price is $10.18, with a market capitalization of $4.15 billion and a significant increase in institutional holdings during the first quarter.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report)'s stock had its "hold (c)" rating restated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also issued reports on ZGN. Oddo Bhf set a $11.50 target price on shares of Ermenegildo Zegna in a research report on Wednesday, September 17th. Bank of America raised their target price on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. assumed coverage on shares of Ermenegildo Zegna in a research report on Monday, September 15th. They issued an "overweight" rating and a $11.00 target price on the stock. Finally, UBS Group raised shares of Ermenegildo Zegna to a "hold" rating in a research report on Monday, September 8th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $9.94.

Ermenegildo Zegna Trading Up 0.2%

Shares of NYSE ZGN traded up $0.03 during midday trading on Wednesday, reaching $10.18. 108,276 shares of the stock were exchanged, compared to its average volume of 977,281. Ermenegildo Zegna has a 52-week low of $6.05 and a 52-week high of $10.38. The stock has a 50 day moving average price of $8.71 and a 200-day moving average price of $8.38. The company has a market capitalization of $4.15 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.36 and a beta of 0.75. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its holdings in Ermenegildo Zegna by 22.7% in the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company's stock valued at $995,000 after buying an additional 24,862 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Ermenegildo Zegna during the first quarter valued at approximately $1,036,000. Nuveen LLC purchased a new stake in shares of Ermenegildo Zegna during the first quarter valued at approximately $1,498,000. Handelsbanken Fonder AB raised its stake in shares of Ermenegildo Zegna by 26.0% during the first quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company's stock valued at $280,000 after purchasing an additional 7,800 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Ermenegildo Zegna by 399.1% during the first quarter. Cubist Systematic Strategies LLC now owns 419,379 shares of the company's stock valued at $3,103,000 after purchasing an additional 335,350 shares during the period. Hedge funds and other institutional investors own 12.91% of the company's stock.

About Ermenegildo Zegna

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.

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