Ermenegildo Zegna (NYSE:ZGN) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised its price target for Ermenegildo Zegna stock from $9.50 to $10.00, maintaining a "buy" rating and suggesting a potential upside of 5.55% from its current price.
• Other analysts have set varying price targets with Oddo Bhf at $11.50 and JPMorgan Chase at $11.00, indicating a mix of ratings including two "buy," three "hold," and one "sell."
• Ermenegildo Zegna's stock has a 52-week trading range between $6.05 and $9.99, with a current market capitalization of approximately $3.86 billion.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) had its price target hoisted by equities research analysts at Bank of America from $9.50 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price would indicate a potential upside of 5.55% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Oddo Bhf set a $11.50 price target on shares of Ermenegildo Zegna in a report on Wednesday, September 17th. UBS Group upgraded shares of Ermenegildo Zegna to a "hold" rating in a report on Monday, September 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Ermenegildo Zegna in a report on Monday, September 15th. They set an "overweight" rating and a $11.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ermenegildo Zegna has an average rating of "Hold" and an average target price of $9.94.

Ermenegildo Zegna Trading Down 0.3%

NYSE ZGN opened at $9.47 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18. Ermenegildo Zegna has a 52 week low of $6.05 and a 52 week high of $9.99. The stock has a market capitalization of $3.86 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 3.03 and a beta of 0.73. The firm has a 50 day moving average of $8.56 and a two-hundred day moving average of $8.21.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position 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 buying an additional 3,033 shares during the last quarter. California State Teachers Retirement System purchased a new position in Ermenegildo Zegna during the 2nd quarter worth $33,000. Savant Capital LLC raised its position 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 buying an additional 3,961 shares during the last quarter. Quadrature Capital Ltd raised its position in Ermenegildo Zegna by 42.5% during the 2nd quarter. Quadrature Capital Ltd now owns 18,615 shares of the company's stock worth $159,000 after buying an additional 5,555 shares during the last quarter. Finally, Quarry LP purchased a new position in Ermenegildo Zegna during the 1st quarter worth $43,000. Hedge funds and other institutional investors own 12.91% of the company's stock.

Ermenegildo Zegna Company Profile

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.

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.