Ermenegildo Zegna (NYSE:ZGN) Upgraded at BNP Paribas Exane

Key Points

• BNP Paribas Exane upgraded Ermenegildo Zegna to “strong sell,” contrasting with broader analyst sentiment. MarketBeat data shows a consensus “Hold” rating, with five Buy, four Hold and one Sell rating.
• Analysts’ average price target is $13.13, below the stock’s Tuesday opening price of $14.07; recent targets range from $14.00 to $17.00.
• Institutional investors have recently increased their positions, while hedge funds and other institutions collectively own 12.91% of ZGN.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) was upgraded by analysts at BNP Paribas Exane to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

ZGN has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. TD Cowen boosted their target price on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Ermenegildo Zegna from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. UBS Group reaffirmed a "buy" rating and set a $14.50 price target on shares of Ermenegildo Zegna in a research note on Friday, May 1st. Finally, The Goldman Sachs Group downgraded shares of Ermenegildo Zegna from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $13.30 to $14.00 in a report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ermenegildo Zegna has a consensus rating of "Hold" and an average target price of $13.13.

Ermenegildo Zegna Stock Performance

Shares of NYSE:ZGN opened at $14.07 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The business's fifty day moving average price is $14.07 and its two-hundred day moving average price is $12.30. Ermenegildo Zegna has a one year low of $7.85 and a one year high of $15.95.

Institutional Investors Weigh In On Ermenegildo Zegna

A number of institutional investors have recently added to or reduced their stakes in ZGN. Osborne Partners Capital Management LLC raised its position in Ermenegildo Zegna by 34.8% in the first quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company's stock valued at $9,820,000 after purchasing an additional 243,137 shares during the period. Spectrum Strategic Capital Management LLC boosted its position in shares of Ermenegildo Zegna by 903.3% in the fourth quarter. Spectrum Strategic Capital Management LLC now owns 111,572 shares of the company's stock worth $1,144,000 after buying an additional 100,452 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its stake in shares of Ermenegildo Zegna by 82.3% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company's stock valued at $3,695,000 after buying an additional 160,078 shares in the last quarter. Amundi acquired a new stake in shares of Ermenegildo Zegna in the first quarter valued at about $10,686,000. Finally, RFG Advisory LLC purchased a new stake in shares of Ermenegildo Zegna during the 4th quarter valued at about $1,165,000. Hedge funds and other institutional investors own 12.91% of the company's stock.

About Ermenegildo Zegna

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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