Ermenegildo Zegna (NYSE:ZGN) Sets New 12-Month High – What’s Next?

Ermenegildo Zegna N.V. (NYSE:ZGN) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $10.86 and last traded at $10.85, with a volume of 69419 shares changing hands. The stock had previously closed at $10.63.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZGN. Jefferies Financial Group assumed coverage on shares of Ermenegildo Zegna in a research report on Tuesday, October 14th. They set a “buy” rating and a $12.90 price target for the company. Sanford C. Bernstein started coverage on shares of Ermenegildo Zegna in a report on Tuesday, November 25th. They set an “outperform” rating and a $13.00 target price for the company. UBS Group increased their target price on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Bank of America boosted their price target on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.20.

Ermenegildo Zegna Trading Up 1.9%

The firm’s fifty day simple moving average is $10.02 and its two-hundred day simple moving average is $9.13. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Ermenegildo Zegna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZGN. Temasek Holdings Private Ltd lifted its stake in shares of Ermenegildo Zegna by 114.5% in the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock valued at $257,440,000 after purchasing an additional 14,542,295 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Ermenegildo Zegna during the third quarter worth $22,609,000. Ceredex Value Advisors LLC purchased a new position in shares of Ermenegildo Zegna during the first quarter worth $7,057,000. Millennium Management LLC grew its stake in shares of Ermenegildo Zegna by 182.8% in the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after buying an additional 742,680 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new stake in shares of Ermenegildo Zegna in the 2nd quarter valued at $6,245,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

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.