Ermenegildo Zegna (NYSE:ZGN) Sets New 52-Week High – Time to Buy?

Ermenegildo Zegna N.V. (NYSE:ZGN)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $15.95 and last traded at $14.9560, with a volume of 17381 shares. The stock had previously closed at $15.21.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. TD Cowen lifted their price target on Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their price target on Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Weiss Ratings raised Ermenegildo Zegna from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, The Goldman Sachs Group downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their price objective for the company from $13.30 to $14.00 in a research note on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.23.

Ermenegildo Zegna Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $14.08 and its two-hundred day simple moving average is $12.19.

Institutional Investors Weigh In On Ermenegildo Zegna

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in Ermenegildo Zegna by 48.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock valued at $29,000 after purchasing an additional 908 shares during the period. California State Teachers Retirement System purchased a new stake in Ermenegildo Zegna in the second quarter worth $33,000. Caitong International Asset Management Co. Ltd increased its position in Ermenegildo Zegna by 11,382.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock worth $40,000 after buying an additional 3,870 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Ermenegildo Zegna in the second quarter valued at $54,000. Finally, Parallel Advisors LLC bought a new stake in shares of Ermenegildo Zegna in the fourth quarter valued at $69,000. Institutional investors own 12.91% of the company’s stock.

About Ermenegildo Zegna

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.