Ermenegildo Zegna (NYSE:ZGN) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a report released on Thursday morning, Marketbeat reports. The firm issued an equal weight rating and a $11.00 target price on the stock.

A number of other analysts have also weighed in on the stock. UBS Group upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price objective on the stock in a research note on Thursday, February 5th. Bank of America reaffirmed a “neutral” rating and issued a $11.20 price target (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Sanford C. Bernstein started coverage on Ermenegildo Zegna in a research note on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ermenegildo Zegna has a consensus rating of “Moderate Buy” and a consensus price target of $11.51.

Ermenegildo Zegna Trading Up 1.5%

Shares of NYSE:ZGN opened at $10.97 on Thursday. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $11.07. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $10.21 and its 200 day moving average is $9.65.

Institutional Investors Weigh In On Ermenegildo Zegna

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

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.