Ermenegildo Zegna (NYSE:ZGN) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage on Ermenegildo Zegna with an "overweight" rating and a price target of $11.00, suggesting a potential upside of 26% from the company's recent close.
• UBS Group recently upgraded its rating on Ermenegildo Zegna to "hold", indicating that analysts are divided on the stock with two "Buy" ratings, three "Hold" ratings, and one "Sell" rating.
• Ermenegildo Zegna's market capitalization stands at $3.56 billion, with the stock showing a 1-year low of $6.05 and a high of $10.14, while also experiencing a recent decline of 1.5% in share price.

Research analysts at JPMorgan Chase & Co. began coverage on shares of Ermenegildo Zegna (NYSE:ZGN - Get Free Report) in a report issued on Monday,Benzinga reports. The firm set an "overweight" rating and a $11.00 price target on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 26.00% from the company's previous close.

Separately, UBS Group upgraded Ermenegildo Zegna to a "hold" rating in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ermenegildo Zegna has an average rating of "Hold" and an average target price of $9.28.

Ermenegildo Zegna Stock Down 1.5%

Shares of NYSE:ZGN opened at $8.73 on Monday. The company has a market capitalization of $3.56 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 2.85 and a beta of 0.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 0.79. The business has a fifty day moving average price of $8.51 and a two-hundred day moving average price of $8.15. Ermenegildo Zegna has a 1 year low of $6.05 and a 1 year high of $10.14.

Institutional Trading of Ermenegildo Zegna

A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in Ermenegildo Zegna by 73.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company's stock worth $61,000 after purchasing an additional 3,033 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Ermenegildo Zegna during the 2nd quarter worth about $33,000. Savant Capital LLC lifted its holdings in Ermenegildo Zegna by 36.0% during the 2nd quarter. Savant Capital LLC now owns 14,957 shares of the company's stock worth $128,000 after purchasing an additional 3,961 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Ermenegildo Zegna by 42.5% in the 2nd quarter. Quadrature Capital Ltd now owns 18,615 shares of the company's stock valued at $159,000 after acquiring an additional 5,555 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Ermenegildo Zegna in the 1st quarter valued at about $43,000. 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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