Ermenegildo Zegna N.V. (NYSE:ZGN) Given Consensus Recommendation of “Hold” by Brokerages

Ermenegildo Zegna N.V. (NYSE:ZGN) has been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $11.3714.

Several analysts have recently commented on ZGN shares. Bank of America reaffirmed a “neutral” rating and issued a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday. Sanford C. Bernstein started coverage on shares of Ermenegildo Zegna in a report on Tuesday, November 25th. They issued an “outperform” rating and a $13.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on Ermenegildo Zegna in a report on Tuesday, October 14th. They issued a “buy” rating and a $12.90 price objective for the company. Finally, UBS Group raised 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.

Hedge Funds Weigh In On Ermenegildo Zegna

Large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in Ermenegildo Zegna in the 2nd quarter valued at $377,000. Goldman Sachs Group Inc. lifted its holdings in Ermenegildo Zegna by 22.7% during the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock valued at $995,000 after purchasing an additional 24,862 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ermenegildo Zegna in the second quarter valued at about $356,000. Temasek Holdings Private Ltd purchased a new stake in shares of Ermenegildo Zegna during the second quarter worth about $108,585,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Ermenegildo Zegna by 5.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 136,326 shares of the company’s stock worth $1,166,000 after purchasing an additional 6,698 shares during the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Trading Down 13.2%

Shares of NYSE:ZGN opened at $9.56 on Friday. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $11.07. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $10.41 and its 200 day moving average is $9.55.

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.