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

Ermenegildo Zegna N.V. (NYSE:ZGN)’s stock price reached 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 traded. The stock had previously closed at $10.63.

Analyst Ratings Changes

A number of analysts have commented on the stock. Sanford C. Bernstein started coverage on shares of Ermenegildo Zegna in a research report on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price target on the stock. Bank of America boosted their price objective on Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Jefferies Financial Group started coverage on shares of Ermenegildo Zegna in a research report on Tuesday, October 14th. They issued a “buy” rating and a $12.90 price target on the stock. Oddo Bhf set a $11.50 target price on shares of Ermenegildo Zegna in a report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Ermenegildo Zegna in a report on Monday, September 15th. They set an “overweight” rating and a $11.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.20.

Ermenegildo Zegna Stock Down 2.7%

The firm’s fifty day moving average is $10.07 and its 200 day moving average is $9.15. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Ermenegildo Zegna

Hedge funds and other institutional investors have recently made changes to their positions in the company. Temasek Holdings Private Ltd grew 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 buying an additional 14,542,295 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Ermenegildo Zegna in the third quarter valued at approximately $22,609,000. Ceredex Value Advisors LLC acquired a new stake in shares of Ermenegildo Zegna in the first quarter worth $7,057,000. Millennium Management LLC increased its position in Ermenegildo Zegna by 182.8% during the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after acquiring an additional 742,680 shares during the period. Finally, Geode Capital Management LLC acquired a new position in Ermenegildo Zegna during the 2nd quarter valued at $6,245,000. 12.91% of the stock is owned by hedge funds and other institutional investors.

About Ermenegildo Zegna

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.