Ermenegildo Zegna (NYSE:ZGN) Sets New 1-Year High – What’s Next?

Ermenegildo Zegna N.V. (NYSE:ZGN) hit a new 52-week high on Friday . The company traded as high as $11.20 and last traded at $10.9820, with a volume of 16576 shares changing hands. The stock had previously closed at $10.98.

Analyst Ratings Changes

ZGN has been the topic of several research reports. UBS Group upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target on the stock in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday, January 21st. Sanford C. Bernstein began coverage on shares of Ermenegildo Zegna in a report on Tuesday, November 25th. They issued an “outperform” rating and a $13.00 price target for the company. Morgan Stanley began coverage on shares of Ermenegildo Zegna in a research report on Thursday. They issued an “equal weight” rating and a $11.00 price target for the company. Finally, Bank of America reissued a “neutral” rating and set a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ermenegildo Zegna presently has an average rating of “Moderate Buy” and a consensus target price of $11.51.

Ermenegildo Zegna Trading Up 0.5%

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 0.79. The business’s 50-day moving average price is $10.22 and its 200-day moving average price is $9.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZGN. CWM LLC acquired a new stake in Ermenegildo Zegna during the 3rd quarter valued at approximately $25,000. California State Teachers Retirement System acquired a new position in Ermenegildo Zegna during the second quarter valued at $33,000. Caitong International Asset Management Co. Ltd lifted its position in Ermenegildo Zegna by 11,382.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock valued at $40,000 after purchasing an additional 3,870 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Ermenegildo Zegna in the second quarter valued at $54,000. Finally, Lazard Asset Management LLC acquired a new stake in Ermenegildo Zegna during the 2nd quarter worth about $54,000. 12.91% of the stock is owned by institutional investors and hedge funds.

Ermenegildo Zegna Company Profile

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.