TD Cowen Issues Positive Forecast for Ermenegildo Zegna (NYSE:ZGN) Stock Price

Ermenegildo Zegna (NYSE:ZGN) had its price target lifted by TD Cowen from $16.00 to $17.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on ZGN. Weiss Ratings cut Ermenegildo Zegna from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 3rd. Wall Street Zen cut Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. BNP Paribas Exane cut Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price target on the stock. in a research note on Tuesday, August 11th. UBS Group decreased their price objective on Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Morgan Stanley set a $13.00 price objective on Ermenegildo Zegna in a research report on Monday, September 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ermenegildo Zegna presently has a consensus rating of “Moderate Buy” and an average price target of $14.18.

Ermenegildo Zegna Price Performance

Shares of ZGN opened at $14.06 on Wednesday. The company has a 50-day simple moving average of $12.86 and a two-hundred day simple moving average of $12.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.47. Ermenegildo Zegna has a one year low of $8.65 and a one year high of $15.95.

Insider Buying and Selling

In other Ermenegildo Zegna news, Director Michele Norsa sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $13.29, for a total value of $106,320.00. Following the sale, the director directly owned 158,348 shares of the company’s stock, valued at approximately $2,104,444.92. The trade was a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ermenegildo Zegna

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in Ermenegildo Zegna by 48.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock worth $29,000 after purchasing an additional 908 shares in the last quarter. GAMMA Investing LLC raised its holdings in Ermenegildo Zegna by 216.9% in the third quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock worth $47,000 after buying an additional 2,560 shares during the last quarter. Group One Trading LLC purchased a new position in Ermenegildo Zegna in the third quarter worth about $57,000. State of Wyoming bought a new position in shares of Ermenegildo Zegna in the first quarter worth approximately $150,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Ermenegildo Zegna by 21.9% in the second quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock worth $492,000 after buying an additional 6,800 shares in the last quarter. 12.91% of the stock is currently owned by institutional investors.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna Group is an Italian luxury company focused on menswear, apparel, accessories and related products. Its portfolio includes the Zegna and Thom Browne brands, as well as Tom Ford Fashion, which it operates under a long-term agreement with Estée Lauder Companies. Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile manufacturer and developed into a global luxury business. Its activities include designing, producing and selling clothing and accessories through retail stores, e-commerce and wholesale channels.