Ermenegildo Zegna (NYSE:ZGN) Earns Neutral Rating from Bank of America

Ermenegildo Zegna (NYSE:ZGN)‘s stock had its “neutral” rating restated by analysts at Bank of America in a research note issued on Friday, MarketBeat Ratings reports. They currently have a $11.20 price target on the stock, down from their previous price target of $11.50. Bank of America‘s price objective would suggest a potential upside of 17.15% from the company’s previous close.

A number of other equities research analysts also recently commented on ZGN. UBS Group lifted their target price on Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Jefferies Financial Group began coverage on shares of Ermenegildo Zegna in a research report on Tuesday, October 14th. They issued a “buy” rating and a $12.90 price target for the company. Sanford C. Bernstein initiated coverage on shares of Ermenegildo Zegna in a report on Tuesday, November 25th. They issued an “outperform” rating and a $13.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.37.

Ermenegildo Zegna Trading Down 13.2%

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Orion Porfolio Solutions LLC boosted its holdings in Ermenegildo Zegna by 12.9% during the third quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company’s stock worth $109,000 after buying an additional 1,323 shares in the last quarter. CWM LLC purchased a new position in Ermenegildo Zegna during the third quarter worth about $25,000. Tower Research Capital LLC TRC increased its position in Ermenegildo Zegna by 73.7% during the second quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company’s stock worth $61,000 after purchasing an additional 3,033 shares during the last quarter. California State Teachers Retirement System purchased a new position in shares of Ermenegildo Zegna in the 2nd quarter worth $33,000. Finally, Savant Capital LLC grew its holdings in shares of 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 purchasing an additional 3,961 shares during the period. Hedge funds and other institutional investors 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.