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

Bank of America assumed coverage on shares of Ermenegildo Zegna (NYSE:ZGNGet Rating) in a report issued on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $13.00 price target on the stock.

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

Ermenegildo Zegna Price Performance

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

Institutional Investors Weigh In On Ermenegildo Zegna

A number of hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Ermenegildo Zegna during the 2nd quarter valued at $116,000. Penserra Capital Management LLC increased its position in shares of Ermenegildo Zegna by 83.0% in 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. SG Americas Securities LLC bought a new stake in shares of Ermenegildo Zegna during the 2nd quarter valued at about $139,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ermenegildo Zegna during the 2nd quarter valued at about $143,000. Finally, Next Capital Management LLC acquired a new stake in shares of Ermenegildo Zegna in the 1st quarter worth approximately $193,000. Institutional investors and hedge funds 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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