Ermenegildo Zegna (NYSE:ZGN) Given Neutral Rating at Bank of America

Ermenegildo Zegna (NYSE:ZGN)‘s stock had its “neutral” rating restated by equities researchers at Bank of America in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $11.20 price objective on the stock, down from their previous price objective of $11.50. Bank of America‘s price target indicates a potential upside of 1.38% from the company’s current price.

ZGN has been the topic of a number of other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday, October 8th. Jefferies Financial Group began coverage on Ermenegildo Zegna in a research note on Tuesday, October 14th. They set a “buy” rating and a $12.90 price objective for the company. Sanford C. Bernstein started coverage on Ermenegildo Zegna in a report on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price objective for the company. Finally, UBS Group upped their target price on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.37.

Ermenegildo Zegna Price Performance

NYSE:ZGN opened at $11.05 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $10.41 and a 200-day moving average of $9.54. Ermenegildo Zegna has a 52 week low of $6.05 and a 52 week high of $11.08.

Institutional Investors Weigh In On Ermenegildo Zegna

A number of hedge funds have recently added to or reduced their stakes in ZGN. CWM LLC acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at about $25,000. California State Teachers Retirement System bought a new stake in shares of Ermenegildo Zegna during the second quarter valued at approximately $33,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Ermenegildo Zegna in the second quarter valued at approximately $54,000. Lazard Asset Management LLC acquired a new stake in shares of Ermenegildo Zegna in the second quarter valued at approximately $54,000. Finally, Legal & General Group Plc bought a new position in Ermenegildo Zegna in the 2nd quarter worth approximately $59,000. 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.