Ermenegildo Zegna (NYSE:ZGN) Earns Hold Rating from Analysts at TD Cowen

TD Cowen assumed coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a report published on Tuesday morning, Marketbeat reports. The brokerage issued a hold rating and a $10.00 target price on the stock.

ZGN has been the subject of a number of other research reports. BNP Paribas raised shares of Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd. Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $9.40 to $8.90 in a research report on Thursday, January 16th. Finally, Morgan Stanley began coverage on Ermenegildo Zegna in a research note on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price objective on the stock.

Ermenegildo Zegna Price Performance

NYSE:ZGN opened at $8.99 on Tuesday. Ermenegildo Zegna has a 1-year low of $7.13 and a 1-year high of $15.26. The firm has a fifty day simple moving average of $8.57 and a 200 day simple moving average of $8.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Institutional Trading of Ermenegildo Zegna

Several hedge funds and other institutional investors have recently modified their holdings of ZGN. Invesco Ltd. raised its holdings in Ermenegildo Zegna by 10.0% in the 4th quarter. Invesco Ltd. now owns 6,386,184 shares of the company’s stock valued at $52,750,000 after acquiring an additional 581,696 shares during the period. Public Investment Fund grew its position in shares of Ermenegildo Zegna by 57.3% in the fourth quarter. Public Investment Fund now owns 5,834,324 shares of the company’s stock valued at $48,192,000 after purchasing an additional 2,124,128 shares during the last quarter. FIL Ltd grew its position in shares of Ermenegildo Zegna by 18.0% in the fourth quarter. FIL Ltd now owns 1,672,992 shares of the company’s stock valued at $13,819,000 after purchasing an additional 255,079 shares during the last quarter. Tabor Asset Management LP increased its stake in shares of Ermenegildo Zegna by 362.0% during the fourth quarter. Tabor Asset Management LP now owns 959,643 shares of the company’s stock worth $7,927,000 after purchasing an additional 751,930 shares during the period. Finally, Alpine Investment Management Ltd acquired a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $7,100,000. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

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.