Ermenegildo Zegna (NYSE:ZGN) Research Coverage Started at TD Cowen

TD Cowen started coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a hold rating and a $10.00 price objective on the stock.

ZGN has been the topic of several other reports. Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and cut their price objective for the company from $9.40 to $8.90 in a research report on Thursday, January 16th. BNP Paribas upgraded Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley initiated coverage on Ermenegildo Zegna in a research note on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price target on the stock.

Ermenegildo Zegna Stock Performance

Shares of ZGN opened at $8.88 on Tuesday. Ermenegildo Zegna has a 1-year low of $7.13 and a 1-year high of $15.26. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $8.58 and its 200-day moving average price is $8.78.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of institutional investors and hedge funds have recently made changes to their positions in ZGN. Roubaix Capital LLC purchased a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $2,481,000. QVIDTVM Management LLC bought a new stake in Ermenegildo Zegna in the third quarter worth $2,908,000. Verition Fund Management LLC bought a new stake in Ermenegildo Zegna in the third quarter worth $149,000. PDT Partners LLC grew its stake in shares of Ermenegildo Zegna by 144.0% in the third quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock worth $547,000 after acquiring an additional 32,779 shares during the last quarter. Finally, Arizona PSPRS Trust bought a new position in shares of Ermenegildo Zegna during the third quarter valued at $979,000. Institutional investors own 12.91% of the company’s stock.

About Ermenegildo Zegna

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.