Weiss Ratings Reiterates Hold (C) Rating for Ermenegildo Zegna (NYSE:ZGN)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for Ermenegildo Zegna (NYSE: ZGN) in a recent report.
• Various investment firms have issued target prices for ZGN, with Jefferies Financial Group setting the highest at $12.90 and the average price target now at $10.37.
• Ermenegildo Zegna's stock currently stands at $10.43 after trading down 0.0%, with significant institutional investment observed, including Temasek Holdings acquiring a stake worth approximately $108.6 million.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

ZGN has been the topic of several other research reports. UBS Group set a $10.00 price objective on Ermenegildo Zegna and gave the stock a "neutral" rating in a report on Friday. Jefferies Financial Group began coverage on Ermenegildo Zegna in a report on Tuesday, October 14th. They set a "buy" rating and a $12.90 price objective on the stock. Oddo Bhf set a $11.50 price objective on Ermenegildo Zegna in a report on Wednesday, September 17th. Bank of America lifted their target price on Ermenegildo Zegna from $9.50 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. initiated coverage on Ermenegildo Zegna in a research note on Monday, September 15th. They set an "overweight" rating and a $11.00 target price on the stock. Three investment 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's stock. Based on data from MarketBeat.com, Ermenegildo Zegna currently has an average rating of "Hold" and an average price target of $10.37.

Ermenegildo Zegna Trading Down 0.0%

NYSE ZGN traded down $0.01 on Friday, hitting $10.43. 587,090 shares of the company were exchanged, compared to its average volume of 976,426. The company's 50 day moving average price is $9.18 and its 200-day moving average price is $8.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 0.79. The firm has a market capitalization of $4.25 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $10.70.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors and hedge funds have recently bought and sold shares of the business. Temasek Holdings Private Ltd bought a new stake in shares of Ermenegildo Zegna in the 2nd quarter valued at approximately $108,585,000. Ceredex Value Advisors LLC bought a new stake in shares of Ermenegildo Zegna in the 1st quarter valued at approximately $7,057,000. Millennium Management LLC grew its stake in shares of Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company's stock valued at $8,503,000 after buying an additional 742,680 shares in the last quarter. Geode Capital Management LLC bought a new stake in shares of Ermenegildo Zegna in the 2nd quarter valued at approximately $6,245,000. Finally, Sei Investments Co. grew its stake in shares of Ermenegildo Zegna by 931.8% in the 2nd quarter. Sei Investments Co. now owns 400,630 shares of the company's stock valued at $3,425,000 after buying an additional 361,802 shares in the last quarter. 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.

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