Ermenegildo Zegna N.V. (NYSE:ZGN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.7286.

Several analysts have recently issued reports on ZGN shares. Morgan Stanley began coverage on Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price objective on the stock. UBS Group upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target on the stock in a research report on Thursday, February 5th. Bank of America reaffirmed a “neutral” rating and set a $11.20 price target (down from $11.50) on shares of Ermenegildo Zegna in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, January 21st.

Ermenegildo Zegna Stock Performance

Shares of Ermenegildo Zegna stock opened at $10.54 on Friday. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $11.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59. The business has a 50-day moving average price of $10.34 and a 200-day moving average price of $10.21.

Ermenegildo Zegna (NYSE:ZGN) last posted its earnings results on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The company had revenue of $577.83 million during the quarter, compared to the consensus estimate of $1.17 billion. As a group, sell-side analysts predict that Ermenegildo Zegna will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Ermenegildo Zegna during the third quarter valued at approximately $22,609,000. Temasek Holdings Private Ltd boosted its holdings in shares of Ermenegildo Zegna by 114.5% in 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 period. Quantbot Technologies LP bought a new position in shares of Ermenegildo Zegna during the 3rd quarter valued at approximately $1,076,000. Federated Hermes Inc. increased its position in shares of Ermenegildo Zegna by 38.3% during the 3rd quarter. Federated Hermes Inc. now owns 304,206 shares of the company’s stock valued at $2,875,000 after purchasing an additional 84,206 shares during the last quarter. Finally, Portolan Capital Management LLC raised its holdings in Ermenegildo Zegna by 15.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,369,176 shares of the company’s stock valued at $12,939,000 after buying an additional 185,190 shares during the period. Hedge funds and other institutional investors own 12.91% of the company’s stock.

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.