Free Trial

Ermenegildo Zegna (NYSE:ZGN) Stock Price Down 5.3% - Here's What Happened

Ermenegildo Zegna logo with Retail/Wholesale background

Key Points

  • Ermenegildo Zegna's stock price fell by 5.3% on Thursday, trading at $9.60, with a significant drop in share volume to approximately 77,539 shares.
  • Analysts have mixed views on the stock, with UBS rating it as a "hold," while Bank of America and JPMorgan Chase have set higher target prices of $10.00 and $11.00 respectively, indicating potential for growth.
  • Recent institutional investments show interest in Ermenegildo Zegna, with several investment firms acquiring new positions valued between $33,000 and $59,000 in the second quarter.
  • Five stocks we like better than Ermenegildo Zegna.

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) shares dropped 5.3% during mid-day trading on Thursday . The company traded as low as $9.58 and last traded at $9.60. Approximately 77,539 shares were traded during trading, a decline of 92% from the average daily volume of 973,435 shares. The stock had previously closed at $10.13.

Analyst Ratings Changes

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

View Our Latest Research Report on Ermenegildo Zegna

Ermenegildo Zegna Stock Down 3.9%

The firm's 50 day simple moving average is $8.74 and its two-hundred day simple moving average is $8.39. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18.

Institutional Trading of Ermenegildo Zegna

Several institutional investors and hedge funds have recently modified their holdings of ZGN. California State Teachers Retirement System bought a new position in shares of Ermenegildo Zegna in the second quarter valued at approximately $33,000. Quarry LP bought a new position in Ermenegildo Zegna during the 1st quarter valued at $43,000. Ameritas Investment Partners Inc. purchased a new position in Ermenegildo Zegna during the 2nd quarter worth $54,000. Lazard Asset Management LLC purchased a new stake in shares of Ermenegildo Zegna in the second quarter valued at about $54,000. Finally, Legal & General Group Plc purchased a new stake in shares of Ermenegildo Zegna in the second quarter valued at about $59,000. 12.91% of the stock is owned by hedge funds and other institutional investors.

About Ermenegildo Zegna

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Ermenegildo Zegna Right Now?

Before you consider Ermenegildo Zegna, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ermenegildo Zegna wasn't on the list.

While Ermenegildo Zegna currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The 10 Best AI Stocks to Own in 2025 Cover

Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.

Get This Free Report
Like this article? Share it with a colleague.