Ermenegildo Zegna (NYSE:ZGN) Coverage Initiated at Morgan Stanley

Morgan Stanley began coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set an “equal weight” rating and a $11.00 price target on the stock. Morgan Stanley’s price objective would indicate a potential upside of 1.93% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, January 21st. UBS Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target on the stock in a research report on Thursday, February 5th. Sanford C. Bernstein started coverage on shares of Ermenegildo Zegna in a report on Tuesday, November 25th. They set an “outperform” rating and a $13.00 target price on the stock. Finally, Bank of America reaffirmed a “neutral” rating and set a $11.20 target price (down previously from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.51.

Ermenegildo Zegna Price Performance

Shares of ZGN opened at $10.79 on Thursday. 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 business’s 50 day simple moving average is $10.20 and its 200-day simple moving average is $9.64. Ermenegildo Zegna has a one year low of $6.05 and a one year high of $11.07.

Institutional Investors Weigh In On Ermenegildo Zegna

Several large investors have recently added to or reduced their stakes in ZGN. Temasek Holdings Private Ltd raised its holdings in shares of Ermenegildo Zegna by 114.5% during the third quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock valued at $257,440,000 after purchasing an additional 14,542,295 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Ermenegildo Zegna by 74.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company’s stock valued at $42,822,000 after purchasing an additional 1,785,266 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Ermenegildo Zegna by 1.2% during the third quarter. Artisan Partners Limited Partnership now owns 2,123,543 shares of the company’s stock valued at $20,067,000 after purchasing an additional 24,894 shares in the last quarter. Portolan Capital Management LLC grew its holdings in shares of Ermenegildo Zegna by 15.6% in 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 in the last quarter. Finally, Millennium Management LLC grew its stake in 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 purchasing an additional 742,680 shares during the period. Institutional investors and hedge funds 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.