Ermenegildo Zegna N.V. (NYSE:ZGN) Receives $11.59 Consensus PT from Brokerages

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have earned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $11.5125.

Several brokerages recently commented on ZGN. Bank of America reiterated a “neutral” rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Morgan Stanley began coverage on Ermenegildo Zegna in a research report on Thursday. They set an “equal weight” rating and a $11.00 price target for the company. Sanford C. Bernstein assumed coverage on shares of Ermenegildo Zegna in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $13.00 price target on the stock. UBS Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 target price on the stock in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, January 21st.

Hedge Funds Weigh In On Ermenegildo Zegna

Hedge funds have recently modified their holdings of the stock. Temasek Holdings Private Ltd raised its holdings in Ermenegildo Zegna by 114.5% during the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock worth $257,440,000 after purchasing an additional 14,542,295 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Ermenegildo Zegna by 74.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company’s stock worth $42,822,000 after acquiring an additional 1,785,266 shares during the period. Artisan Partners Limited Partnership lifted its position in Ermenegildo Zegna by 1.2% during the third quarter. Artisan Partners Limited Partnership now owns 2,123,543 shares of the company’s stock worth $20,067,000 after acquiring an additional 24,894 shares during the last quarter. Portolan Capital Management LLC raised its stake in Ermenegildo Zegna by 15.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,369,176 shares of the company’s stock worth $12,939,000 after purchasing an additional 185,190 shares in the last quarter. Finally, Millennium Management LLC grew its holdings 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 worth $8,503,000 after purchasing an additional 742,680 shares in the last quarter. 12.91% of the stock is owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Performance

NYSE:ZGN opened at $11.04 on Thursday. The stock has a fifty day simple moving average of $10.22 and a 200-day simple moving average of $9.67. Ermenegildo Zegna has a 52-week low of $6.05 and a 52-week high of $11.29. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18.

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.