Ermenegildo Zegna (NYSE:ZGN) Research Coverage Started at Morgan Stanley

Morgan Stanley started coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a research note released on Thursday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $11.00 price target on the stock.

Other analysts have also issued reports about the company. Sanford C. Bernstein initiated coverage on Ermenegildo Zegna in a research note on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price target on the stock. UBS Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 target price on the stock in a report on Thursday, February 5th. Bank of America reaffirmed a “neutral” rating and set a $11.20 price target (down previously from $11.50) on shares of Ermenegildo Zegna in a research note on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.51.

Ermenegildo Zegna Stock Performance

NYSE ZGN opened at $11.04 on Thursday. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $11.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 0.79. The business’s fifty day moving average is $10.22 and its 200 day moving average is $9.67.

Institutional Trading of Ermenegildo Zegna

Several large investors have recently made changes to their positions in ZGN. Walleye Capital LLC bought a new stake in Ermenegildo Zegna in the 4th quarter valued at about $335,000. State Street Corp increased its holdings in shares of Ermenegildo Zegna by 3.2% during the fourth quarter. State Street Corp now owns 878,867 shares of the company’s stock valued at $9,014,000 after acquiring an additional 27,336 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ermenegildo Zegna during the fourth quarter worth approximately $201,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Ermenegildo Zegna by 11,382.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock worth $40,000 after purchasing an additional 3,870 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Ermenegildo Zegna by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 67,591 shares of the company’s stock worth $693,000 after purchasing an additional 29,634 shares in the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.