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

Key Points

• Wall Street Zen upgraded Ermenegildo Zegna from “hold” to “buy,” adding to a mixed but generally positive analyst picture for the luxury fashion company.
• The stock was up 1.2% and traded around $13.21, near its 52-week high of $13.38, with analysts' consensus rating at Moderate Buy and an average price target of $12.26.
• Zegna’s latest earnings disappointed, with EPS of $0.15 versus expectations of $0.26 and revenue of $577.83 million versus an expected $1.17 billion, even as institutional investors increased their stakes.

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

ZGN has been the topic of a number of other reports. Weiss Ratings restated a "hold (c)" rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. TD Cowen raised their target price on Ermenegildo Zegna from $11.00 to $13.00 and gave the company a "hold" rating in a research report on Friday, May 1st. UBS Group restated a "buy" rating and set a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Bank of America restated a "neutral" rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a research report on Friday, January 16th. Finally, Morgan Stanley started coverage on Ermenegildo Zegna in a research report on Thursday, February 12th. They set an "equal weight" rating and a $11.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.26.

Ermenegildo Zegna Trading Up 1.2%

NYSE ZGN opened at $13.21 on Friday. The stock has a 50-day simple moving average of $11.00 and a two-hundred day simple moving average of $10.56. Ermenegildo Zegna has a fifty-two week low of $7.61 and a fifty-two week high of $13.38. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) last posted its earnings results on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.11). The firm had revenue of $577.83 million during the quarter, compared to analysts' expectations of $1.17 billion. As a group, equities research analysts forecast that Ermenegildo Zegna will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Ermenegildo Zegna

Several institutional investors have recently bought and sold shares of the company. Temasek Holdings Private Ltd boosted its holdings in Ermenegildo Zegna by 114.5% in the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company's stock worth $257,440,000 after buying an additional 14,542,295 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Ermenegildo Zegna by 74.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company's stock worth $42,822,000 after buying an additional 1,785,266 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Ermenegildo Zegna by 1.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,123,543 shares of the company's stock worth $20,067,000 after buying an additional 24,894 shares during the last quarter. Portolan Capital Management LLC boosted its holdings in shares of Ermenegildo Zegna by 15.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,369,176 shares of the company's stock worth $12,939,000 after purchasing an additional 185,190 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Ermenegildo Zegna by 73.7% during the 4th quarter. Millennium Management LLC now owns 1,188,887 shares of the company's stock worth $12,186,000 after purchasing an additional 504,546 shares during the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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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