Ermenegildo Zegna (NYSE:ZGN) Reaches New 1-Year High – Here’s Why

Ermenegildo Zegna N.V. (NYSE:ZGN) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.06 and last traded at $11.00, with a volume of 225728 shares changing hands. The stock had previously closed at $10.85.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Ermenegildo Zegna in a research note on Tuesday, November 25th. They set an “outperform” rating and a $13.00 target price on the stock. Bank of America restated a “neutral” rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday. Jefferies Financial Group began coverage on Ermenegildo Zegna in a report on Tuesday, October 14th. They issued a “buy” rating and a $12.90 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday, October 8th. Finally, UBS Group boosted their price target 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. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Ermenegildo Zegna presently has an average rating of “Hold” and an average target price of $11.37.

Ermenegildo Zegna Stock Down 13.2%

The company’s 50 day simple moving average is $10.41 and its two-hundred day simple moving average is $9.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.79 and a current ratio of 1.42.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors have recently bought and sold shares of ZGN. CWM LLC acquired a new stake in Ermenegildo Zegna during the 3rd quarter worth approximately $25,000. California State Teachers Retirement System purchased a new stake in Ermenegildo Zegna during the 2nd quarter worth about $33,000. Ameritas Investment Partners Inc. acquired a new stake in Ermenegildo Zegna in the 2nd quarter valued at about $54,000. Lazard Asset Management LLC purchased a new position in shares of Ermenegildo Zegna in the 2nd quarter valued at about $54,000. Finally, Legal & General Group Plc acquired a new position in shares of Ermenegildo Zegna during the second quarter worth about $59,000. 12.91% of the stock is owned by institutional investors and hedge funds.

Ermenegildo Zegna Company Profile

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.