Ermenegildo Zegna (NYSE:ZGN) Trading Up 6% – Should You Buy?

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) traded up 6% during trading on Friday . The stock traded as high as $9.98 and last traded at $9.8070. 236,645 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 754,286 shares. The stock had previously closed at $9.25.

Wall Street Analyst Weigh In

ZGN has been the topic of a number of recent research reports. 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 on the stock. Bank of America restated a “neutral” rating and issued a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a research note on Friday, January 16th. UBS Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target for the company in a report on Thursday, February 5th. Morgan Stanley initiated coverage on shares of Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.73.

Ermenegildo Zegna Trading Up 5.1%

The firm has a 50 day moving average price of $10.37 and a 200-day moving average price of $10.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.79 and a current ratio of 1.42.

Ermenegildo Zegna (NYSE:ZGN) last issued its earnings results on Thursday, March 26th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $577.83 million during the quarter, compared to analysts’ expectations of $1.17 billion. Research analysts anticipate that Ermenegildo Zegna N.V. will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC increased its position in shares of Ermenegildo Zegna by 6.5% in the fourth quarter. Vident Advisory LLC now owns 18,001 shares of the company’s stock worth $185,000 after purchasing an additional 1,097 shares during the period. Occudo Quantitative Strategies LP raised its position in shares of Ermenegildo Zegna by 72.9% in the fourth quarter. Occudo Quantitative Strategies LP now owns 88,433 shares of the company’s stock valued at $906,000 after purchasing an additional 37,273 shares during the period. Millennium Management LLC raised its holdings in Ermenegildo Zegna by 73.7% during the 4th quarter. Millennium Management LLC now owns 1,188,887 shares of the company’s stock valued at $12,186,000 after acquiring an additional 504,546 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter worth $1,396,000. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Ermenegildo Zegna by 527.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 86,439 shares of the company’s stock valued at $886,000 after purchasing an additional 72,671 shares in the last quarter. Institutional investors and hedge funds 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.