Ermenegildo Zegna (NYSE:ZGN) Coverage Initiated by Analysts at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued a moderate buy rating and a $16.00 price target on the stock.

A number of other analysts have also issued reports on the company. Wall Street Zen lowered Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. lifted their price target on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Morgan Stanley set a $13.00 price objective on shares of Ermenegildo Zegna in a report on Monday, September 7th. Weiss Ratings lowered shares of Ermenegildo Zegna from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 3rd. Finally, HSBC assumed coverage on shares of Ermenegildo Zegna in a research report on Tuesday, October 6th. They issued a “buy” rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ermenegildo Zegna presently has an average rating of “Moderate Buy” and a consensus price target of $14.08.

Ermenegildo Zegna Price Performance

Shares of Ermenegildo Zegna stock opened at $13.38 on Tuesday. Ermenegildo Zegna has a fifty-two week low of $8.65 and a fifty-two week high of $15.95. The business’s fifty day moving average is $12.79 and its two-hundred day moving average is $12.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi purchased a new stake in Ermenegildo Zegna during the first quarter valued at about $10,686,000. Walleye Capital LLC increased its stake in Ermenegildo Zegna by 1,938.7% during the first quarter. Walleye Capital LLC now owns 665,851 shares of the company’s stock worth $6,938,000 after acquiring an additional 633,191 shares during the last quarter. Bank of America Corp DE increased its stake in Ermenegildo Zegna by 483.2% during the first quarter. Bank of America Corp DE now owns 583,360 shares of the company’s stock worth $6,079,000 after acquiring an additional 483,332 shares during the last quarter. Osborne Partners Capital Management LLC raised its holdings 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 worth $9,820,000 after purchasing an additional 243,137 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in shares of Ermenegildo Zegna by 82.3% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company’s stock worth $3,695,000 after purchasing an additional 160,078 shares during the period. 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.