Ermenegildo Zegna (NYSE:ZGN) Stock Price Up 6.8% – Still a Buy?

Ermenegildo Zegna N.V. (NYSE:ZGN) shares rose 6.8% during mid-day trading on Thursday. The company traded as high as $13.66 and last traded at $13.8030. 192,607 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 975,026 shares. The stock had previously closed at $12.92.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ZGN. UBS Group decreased their price objective on Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating on the stock in a report on Monday, October 5th. TD Cowen reduced their target price on shares of Ermenegildo Zegna from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Weiss Ratings cut shares of Ermenegildo Zegna from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Ermenegildo Zegna in a research report on Sunday, October 4th. Finally, HSBC assumed coverage on shares of Ermenegildo Zegna in a report on Tuesday, October 6th. They set a “buy” rating and a $16.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.76.

Ermenegildo Zegna Stock Up 7.0%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.47. The stock’s 50 day moving average is $12.78 and its two-hundred day moving average is $13.16.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Ermenegildo Zegna by 48.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock valued at $29,000 after buying an additional 908 shares during the period. GAMMA Investing LLC lifted its stake in shares of Ermenegildo Zegna by 216.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock worth $47,000 after acquiring an additional 2,560 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Ermenegildo Zegna by 21.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock worth $492,000 after acquiring an additional 6,800 shares during the period. Central Pacific Bank Trust Division boosted its holdings in shares of Ermenegildo Zegna by 28.1% in the second quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company’s stock valued at $564,000 after acquiring an additional 9,492 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Ermenegildo Zegna in the first quarter valued at approximately $150,000. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

About Ermenegildo Zegna

Ermenegildo Zegna N.V. is a global luxury-goods group specializing in menswear, accessories and related lifestyle products. Its portfolio includes the Zegna brand, known for tailored clothing, ready-to-wear apparel, footwear, leather goods and fabrics, as well as Thom Browne, a luxury fashion brand offering menswear, womenswear, accessories and footwear.

The company also operates the TOM FORD FASHION business, which includes luxury apparel, accessories and footwear under the TOM FORD brand.