Ermenegildo Zegna (NYSE:ZGN) Raised to “Buy” at Wall Street Zen

Ermenegildo Zegna (NYSE:ZGN) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts have also issued reports on the stock. TD Cowen raised their target price on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Bank of America reiterated a “neutral” rating and issued a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a research report on Friday, January 16th. UBS Group reiterated a “buy” rating and issued a $14.50 price objective on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. Finally, Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a research report on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.26.

Ermenegildo Zegna Stock Up 0.3%

Shares of ZGN opened at $13.21 on Friday. 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 company’s 50 day simple moving average is $11.00 and its 200-day simple moving average is $10.56. Ermenegildo Zegna has a 12-month low of $7.61 and a 12-month high of $13.38.

Ermenegildo Zegna (NYSE:ZGN) last announced its earnings results on Friday, March 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The firm had revenue of $577.83 million for the quarter, compared to analyst estimates of $1.17 billion. Sell-side analysts expect that Ermenegildo Zegna will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZGN. Vident Advisory LLC increased its stake in shares of Ermenegildo Zegna by 6.5% during the 4th quarter. Vident Advisory LLC now owns 18,001 shares of the company’s stock valued at $185,000 after acquiring an additional 1,097 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in shares of Ermenegildo Zegna by 12.9% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company’s stock valued at $109,000 after acquiring an additional 1,323 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Ermenegildo Zegna by 3.3% during the 4th quarter. Deutsche Bank AG now owns 57,477 shares of the company’s stock valued at $589,000 after acquiring an additional 1,822 shares during the last quarter. CWM LLC acquired a new position in shares of Ermenegildo Zegna during the 3rd quarter valued at about $25,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Ermenegildo Zegna by 73.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company’s stock valued at $61,000 after acquiring an additional 3,033 shares during the last quarter. Institutional investors and hedge funds own 12.91% of the company’s stock.

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.