Ermenegildo Zegna (NYSE:ZGN) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Ermenegildo Zegna from “buy” to “hold,” adding to mixed analyst sentiment.
• Across analysts, Zegna has five buy ratings, four holds and one sell rating, resulting in an overall “Hold” consensus and an average price target of $13.13.
• ZGN opened at $13.77, compared with a 52-week range of $7.85 to $15.95; institutional investors and hedge funds own approximately 12.91% of the company.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

A number of other analysts have also recently weighed in on the stock. TD Cowen boosted their price objective on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a "buy" rating to a "neutral" rating and raised their price target for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. UBS Group reiterated a "buy" rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, June 30th. Finally, BNP Paribas Exane cut Ermenegildo Zegna from a "neutral" rating to an "underperform" rating and set a $12.20 price objective on the stock. in a research report on Tuesday. Five 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. Based on data from MarketBeat.com, Ermenegildo Zegna currently has an average rating of "Hold" and an average price target of $13.13.

Ermenegildo Zegna Stock Performance

ZGN stock opened at $13.77 on Friday. Ermenegildo Zegna has a 1 year low of $7.85 and a 1 year high of $15.95. The company has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $12.34. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in Ermenegildo Zegna by 48.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company's stock valued at $29,000 after purchasing an additional 908 shares in the last quarter. California State Teachers Retirement System acquired a new position in shares of Ermenegildo Zegna in the 2nd quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Ermenegildo Zegna by 11,382.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company's stock worth $40,000 after buying an additional 3,870 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Ermenegildo Zegna during the 2nd quarter worth approximately $54,000. Finally, Parallel Advisors LLC bought a new position in shares of Ermenegildo Zegna during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 12.91% of the company's stock.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men's tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.

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