Brokerages Set Ermenegildo Zegna N.V. (NYSE:ZGN) Target Price at $11.73

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $11.7286.

A number of research analysts recently commented on the company. Morgan Stanley started coverage on Ermenegildo Zegna in a report on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, January 21st. UBS Group raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target on the stock in a research note on Thursday, February 5th. Bank of America reiterated 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. Finally, Sanford C. Bernstein began coverage on Ermenegildo Zegna in a research report on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price objective for the company.

Institutional Investors Weigh In On Ermenegildo Zegna

Institutional investors have recently made changes to their positions in the stock. CWM LLC purchased a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at approximately $25,000. California State Teachers Retirement System purchased a new position in shares of Ermenegildo Zegna during the 2nd quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd increased its holdings in Ermenegildo Zegna by 11,382.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock valued at $40,000 after purchasing an additional 3,870 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Ermenegildo Zegna in the second quarter valued at approximately $54,000. Finally, Lazard Asset Management LLC purchased a new stake in Ermenegildo Zegna in the second quarter valued at approximately $54,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Performance

Ermenegildo Zegna stock opened at $9.69 on Monday. The firm has a 50 day simple moving average of $10.45 and a 200-day simple moving average of $10.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 0.79. Ermenegildo Zegna has a 1-year low of $6.05 and a 1-year high of $11.93.

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.