Ermenegildo Zegna (NYSE:ZGN) Reaches New 52-Week Low – What’s Next?

Ermenegildo Zegna (NYSE:ZGN) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.05 and last traded at $6.46, with a volume of 42097 shares trading hands. The stock had previously closed at $6.18.

Analyst Upgrades and Downgrades

ZGN has been the topic of a number of recent research reports. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and lowered their target price for the company from $9.40 to $8.90 in a research note on Thursday, January 16th. TD Cowen assumed coverage on Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 price objective on the stock.

Ermenegildo Zegna Trading Up 2.9 %

The company has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $8.17. The company has a market capitalization of $2.59 billion, a P/E ratio of 11.99 and a beta of 0.73. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Institutional Investors Weigh In On Ermenegildo Zegna

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in Ermenegildo Zegna during the fourth quarter valued at approximately $28,000. Entropy Technologies LP bought a new stake in Ermenegildo Zegna during the 4th quarter valued at approximately $84,000. Mirabella Financial Services LLP acquired a new stake in Ermenegildo Zegna in the 4th quarter valued at approximately $87,000. Vident Advisory LLC bought a new position in Ermenegildo Zegna in the 4th quarter worth approximately $126,000. Finally, Aquatic Capital Management LLC bought a new position in Ermenegildo Zegna in the 4th quarter worth approximately $144,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.