Ermenegildo Zegna (NYSE:ZGN) Sets New 52-Week High - Should You Buy?

Key Points

• Ermenegildo Zegna's share price reached a new 52-week high at $10.39 during trading, indicating a significant increase from its previous close of $10.00.
• Analysts have upgraded their ratings and target prices for Ermenegildo Zegna, with a consensus price target of $10.43 and three analysts rating it a Buy.
• Institutional investors currently hold 12.91% of Ermenegildo Zegna's stock, signaling growing interest in the company's market position.

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $10.39 and last traded at $10.38, with a volume of 466174 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group raised Ermenegildo Zegna to a "hold" rating in a research note on Monday, September 8th. Oddo Bhf set a $11.50 target price on Ermenegildo Zegna in a research report on Wednesday, September 17th. JPMorgan Chase & Co. started coverage on Ermenegildo Zegna in a research report on Monday, September 15th. They set an "overweight" rating and a $11.00 target price for the company. Jefferies Financial Group started coverage on Ermenegildo Zegna in a research note on Tuesday. They set a "buy" rating and a $12.90 price target for the company. Finally, Bank of America boosted their price target on Ermenegildo Zegna from $9.50 to $10.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $10.43.

Ermenegildo Zegna Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.79 and a current ratio of 1.42. The company has a market capitalization of $4.26 billion, a PE ratio of 19.73, a P/E/G ratio of 2.52 and a beta of 0.75. The company's 50-day simple moving average is $8.93 and its 200-day simple moving average is $8.47.

Institutional Trading of Ermenegildo Zegna

Several hedge funds have recently made changes to their positions in ZGN. CWM LLC acquired a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth $25,000. California State Teachers Retirement System acquired a new stake in shares of Ermenegildo Zegna in the second quarter valued at about $33,000. Quarry LP acquired a new stake in shares of Ermenegildo Zegna in the first quarter valued at about $43,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Ermenegildo Zegna in the second quarter valued at about $54,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Ermenegildo Zegna in the second quarter valued at about $54,000. Institutional investors and hedge funds 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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