Analysts Set Ermenegildo Zegna N.V. (NYSE:ZGN) Target Price at $11.37

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $11.3714.

A number of equities analysts recently weighed in on ZGN shares. Jefferies Financial Group started coverage on shares of Ermenegildo Zegna in a report on Tuesday, October 14th. They issued a “buy” rating and a $12.90 price objective for the company. UBS Group lifted their target price on Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Bank of America reaffirmed a “neutral” rating and set a $11.20 price target (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Sanford C. Bernstein assumed coverage on Ermenegildo Zegna in a research report on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday.

Ermenegildo Zegna Stock Down 2.4%

Shares of Ermenegildo Zegna stock opened at $9.63 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18. Ermenegildo Zegna has a 52-week low of $6.05 and a 52-week high of $11.07. The company has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $9.58.

Institutional Investors Weigh In On Ermenegildo Zegna

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd grew its position 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 purchasing an additional 14,542,295 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Ermenegildo Zegna in the 3rd quarter worth $22,609,000. Artisan Partners Limited Partnership grew its holdings in shares of Ermenegildo Zegna by 1.2% in the third quarter. Artisan Partners Limited Partnership now owns 2,123,543 shares of the company’s stock worth $20,067,000 after acquiring an additional 24,894 shares during the period. Portolan Capital Management LLC increased its position in Ermenegildo Zegna by 15.6% during the third quarter. Portolan Capital Management LLC now owns 1,369,176 shares of the company’s stock valued at $12,939,000 after acquiring an additional 185,190 shares during the last quarter. Finally, Millennium Management LLC increased its position in Ermenegildo Zegna by 182.8% during the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after acquiring an additional 742,680 shares during the last quarter. Hedge funds and other institutional investors 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.