Ermenegildo Zegna N.V. (NYSE:ZGN) Receives $10.37 Consensus Target Price from Brokerages

Ermenegildo Zegna N.V. (NYSE:ZGN) has been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.3714.

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, October 8th. Oddo Bhf set a $11.50 target price on Ermenegildo Zegna in a report on Wednesday, September 17th. JPMorgan Chase & Co. initiated coverage on Ermenegildo Zegna in a research note on Monday, September 15th. They issued an “overweight” rating and a $11.00 price target for the company. Bank of America upped their price target on Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, UBS Group lifted their price objective on Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 24th.

Ermenegildo Zegna Stock Down 3.2%

NYSE:ZGN opened at $9.73 on Tuesday. The firm has a 50-day simple moving average of $9.58 and a two-hundred day simple moving average of $8.85. Ermenegildo Zegna has a fifty-two week low of $6.05 and a fifty-two week high of $10.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.79 and a current ratio of 1.42.

Hedge Funds Weigh In On Ermenegildo Zegna

Institutional investors and hedge funds have recently made changes to their positions in the business. Temasek Holdings Private Ltd purchased a new position in Ermenegildo Zegna during the second quarter valued at $108,585,000. Ceredex Value Advisors LLC bought a new position in shares of Ermenegildo Zegna in the first quarter worth about $7,057,000. Millennium Management LLC lifted its position in shares of Ermenegildo Zegna by 182.8% during the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after buying an additional 742,680 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Ermenegildo Zegna during the 2nd quarter valued at approximately $6,245,000. Finally, Sei Investments Co. grew its stake in shares of Ermenegildo Zegna by 931.8% during the 2nd quarter. Sei Investments Co. now owns 400,630 shares of the company’s stock valued at $3,425,000 after acquiring an additional 361,802 shares during the period. Hedge funds and other 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.