Ermenegildo Zegna (NYSE:ZGN) Shares Down 3.3% - What's Next?

Key Points

• Ermenegildo Zegna shares fell 3.3% to about $12.91 in mid-day trading, with volume 13% above the average session level.
• Analyst sentiment remains broadly positive but mixed: the stock has a consensus “Moderate Buy” rating and a $13.76 target price, while some firms recently downgraded their ratings or reduced price targets.
• Institutional ownership stands at 12.91%, with several investment firms increasing their stakes or initiating new positions during the first and second quarters.

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report)'s stock price was down 3.3% during mid-day trading on Friday. The stock traded as low as $12.90 and last traded at $12.9090. 1,111,391 shares changed hands during trading, an increase of 13% from the average session volume of 985,841 shares. The stock had previously closed at $13.35.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZGN shares. Wall Street Zen cut shares of Ermenegildo Zegna from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Morgan Stanley set a $13.00 price objective on shares of Ermenegildo Zegna in a research note on Monday, September 7th. Weiss Ratings lowered shares of Ermenegildo Zegna from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 3rd. JPMorgan Chase & Co. increased their target price on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 30th. Finally, TD Cowen cut their target price on Ermenegildo Zegna from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ermenegildo Zegna has a consensus rating of "Moderate Buy" and a consensus target price of $13.76.

Ermenegildo Zegna Price Performance

The company's fifty day moving average price is $12.87 and its two-hundred day moving average price is $13.09. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.47.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Osborne Partners Capital Management LLC boosted its holdings in shares of 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 buying an additional 243,137 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Ermenegildo Zegna by 82.3% in the 1st 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 acquiring an additional 160,078 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new position in Ermenegildo Zegna during the first quarter worth $1,198,000. Amundi acquired a new position in shares of Ermenegildo Zegna during the 1st quarter worth about $10,686,000. Finally, Wellington Management Group LLP acquired a new position in shares of Ermenegildo Zegna during the 2nd quarter worth approximately $1,890,000. Institutional investors and hedge funds own 12.91% of the company's stock.

About Ermenegildo Zegna

Ermenegildo Zegna Group is an Italy-based luxury goods company specializing in high-end menswear, tailoring, fabrics and accessories. Its product range includes suits, ready-to-wear clothing, footwear, leather goods and other lifestyle products, with a heritage rooted in the production of fine wool and luxury textiles.

The company was founded in 1910 by Ermenegildo Zegna in Trivero, Italy. It has developed from a textile manufacturer into a global luxury group with directly operated stores, wholesale distribution and digital commerce serving customers across Europe, North America, Asia and other international markets.

The group's portfolio includes the ZEGNA brand, known for contemporary luxury menswear and made-to-measure services, as well as Thom Browne, a luxury fashion brand recognized for its distinctive American-inspired designs.

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