Ermenegildo Zegna (NYSE:ZGN) Stock Picked Up by Analysts at Royal Bank Of Canada

Analysts at Royal Bank Of Canada assumed coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a report released on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Royal Bank Of Canada‘s target price suggests a potential upside of 20.63% from the company’s current price.

A number of other research firms also recently issued reports on ZGN. Morgan Stanley set a $13.00 price target on Ermenegildo Zegna in a research note on Monday, September 7th. HSBC assumed coverage on Ermenegildo Zegna in a research note on Tuesday, October 6th. They issued a “buy” rating and a $16.00 price objective for the company. Weiss Ratings downgraded Ermenegildo Zegna from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 3rd. UBS Group lowered their target price on shares of Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating on the stock in a research report on Monday, October 5th. Finally, Wall Street Zen cut shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.08.

Ermenegildo Zegna Price Performance

Ermenegildo Zegna stock opened at $13.26 on Tuesday. Ermenegildo Zegna has a fifty-two week low of $8.65 and a fifty-two week high of $15.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.80. The stock has a 50-day simple moving average of $12.79 and a 200-day simple moving average of $12.36.

Hedge Funds Weigh In On Ermenegildo Zegna

Institutional investors have recently added to or reduced their stakes in the stock. Osborne Partners Capital Management LLC grew its stake in shares of Ermenegildo Zegna by 34.8% in the 1st quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company’s stock valued at $9,820,000 after purchasing an additional 243,137 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in shares of Ermenegildo Zegna by 82.3% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company’s stock valued at $3,695,000 after purchasing an additional 160,078 shares during the period. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Ermenegildo Zegna during the first quarter worth approximately $1,198,000. Wellington Management Group LLP purchased a new stake in shares of Ermenegildo Zegna during the second quarter worth approximately $1,890,000. Finally, Amundi acquired a new stake in shares of Ermenegildo Zegna during the first quarter worth $10,686,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

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.