Ermenegildo Zegna (NYSE:ZGN) Stock Rated Moderate Buy in New Coverage at Royal Bank Of Canada

Stock analysts at Royal Bank Of Canada began coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm set a “moderate buy” rating and a $16.00 price target on the stock. Royal Bank Of Canada‘s price objective indicates a potential upside of 19.55% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen cut Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. The Goldman Sachs Group restated a “neutral” rating on shares of Ermenegildo Zegna in a research note on Sunday, October 4th. BNP Paribas Exane downgraded Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price objective for the company. in a report on Tuesday, August 11th. Weiss Ratings downgraded Ermenegildo Zegna from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 3rd. Finally, UBS Group lowered their price objective on shares of Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating for the company in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ermenegildo Zegna currently has an average rating of “Moderate Buy” and an average price target of $14.08.

Ermenegildo Zegna Stock Down 0.2%

Shares of NYSE:ZGN opened at $13.38 on Tuesday. The firm’s 50 day simple moving average is $12.79 and its 200-day simple moving average is $12.35. Ermenegildo Zegna has a one year low of $8.65 and a one year high of $15.95.

Hedge Funds Weigh In On Ermenegildo Zegna

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Ermenegildo Zegna by 216.9% during the third quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock valued at $47,000 after acquiring an additional 2,560 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Ermenegildo Zegna during the second quarter worth about $601,000. Wellington Management Group LLP purchased a new position in shares of Ermenegildo Zegna in the 2nd quarter valued at approximately $1,890,000. Handelsbanken Fonder AB grew its position in Ermenegildo Zegna by 21.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock worth $492,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised 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 worth $564,000 after buying an additional 9,492 shares during the last quarter. 12.91% of the stock is currently owned by 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.