Ermenegildo Zegna (NYSE:ZGN) Coverage Initiated by Analysts at Bank of America

Bank of America initiated coverage on shares of Ermenegildo Zegna (NYSE:ZGNGet Rating) in a research note released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $13.00 price objective on the stock.

Separately, UBS Group dropped their target price on shares of Ermenegildo Zegna to $10.00 in a report on Thursday, June 9th.

Ermenegildo Zegna Stock Down 2.1 %

Shares of ZGN stock opened at $10.28 on Tuesday. The firm’s 50 day moving average is $10.69 and its 200 day moving average is $10.44. Ermenegildo Zegna has a 12 month low of $8.89 and a 12 month high of $12.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.14 and a current ratio of 1.61.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of institutional investors have recently modified their holdings of ZGN. Penserra Capital Management LLC boosted its holdings in shares of Ermenegildo Zegna by 83.0% during the 1st quarter. Penserra Capital Management LLC now owns 12,189 shares of the company’s stock worth $128,000 after purchasing an additional 5,530 shares during the last quarter. Strs Ohio purchased a new stake in shares of Ermenegildo Zegna during the second quarter worth $116,000. SG Americas Securities LLC acquired a new position in shares of Ermenegildo Zegna during the second quarter worth $139,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ermenegildo Zegna in the second quarter valued at $143,000. Finally, Next Capital Management LLC acquired a new position in Ermenegildo Zegna in the first quarter valued at $193,000. Hedge funds and other institutional investors own 45.26% of the company’s stock.

Ermenegildo Zegna Company Profile

(Get Rating)

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.

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