Ermenegildo Zegna (NYSE:ZGN) Sets New 52-Week High – What’s Next?

Ermenegildo Zegna N.V. (NYSE:ZGN)’s stock price reached a new 52-week high on Thursday . The company traded as high as $11.06 and last traded at $11.00, with a volume of 225728 shares changing hands. The stock had previously closed at $10.85.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ZGN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Wednesday, October 8th. UBS Group lifted their price target on Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Oddo Bhf set a $11.50 target price on Ermenegildo Zegna in a report on Wednesday, September 17th. Jefferies Financial Group assumed coverage on shares of Ermenegildo Zegna in a research report on Tuesday, October 14th. They set a “buy” rating and a $12.90 price objective for the company. Finally, Bank of America increased their price target on Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.20.

Ermenegildo Zegna Price Performance

The firm’s 50-day moving average is $10.39 and its 200-day moving average is $9.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 0.79.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of hedge funds have recently added to or reduced their stakes in ZGN. Orion Porfolio Solutions LLC raised its stake in shares of Ermenegildo Zegna by 12.9% in the third quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company’s stock worth $109,000 after purchasing an additional 1,323 shares during the last quarter. CWM LLC purchased a new stake in Ermenegildo Zegna in the 3rd quarter valued at $25,000. Tower Research Capital LLC TRC raised its position in Ermenegildo Zegna by 73.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company’s stock valued at $61,000 after buying an additional 3,033 shares during the last quarter. California State Teachers Retirement System bought a new position in Ermenegildo Zegna during the 2nd quarter valued at $33,000. Finally, Savant Capital LLC boosted its holdings in Ermenegildo Zegna by 36.0% during the 2nd quarter. Savant Capital LLC now owns 14,957 shares of the company’s stock worth $128,000 after acquiring an additional 3,961 shares during the last quarter. Institutional investors and hedge funds own 12.91% of the company’s stock.

About Ermenegildo Zegna

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.