Ermenegildo Zegna (NYSE:ZGN) now covered by Bank of America


Bank of America equity research analysts have begun covering shares of Ermenegildo Zegna (NYSE:ZGN – Get Rating) in a research note published Tuesday, Briefing.com reports. The company has set a “buy” rating and a price target of $13.00 on the stock. Bank of America’s price target suggests a potential upside of 23.81% from the company’s previous close.

Separately, UBS Group lowered its price target on Ermenegildo Zegna to $10.00 in a Thursday, June 9 report.

Performance of the Ermenegildo Zegna share

ZGN opened at $10.50 on Tuesday. Ermenegildo Zegna has a 12-month low of $8.89 and a 12-month high of $12.65. The company’s 50-day moving average is $10.69 and its 200-day moving average is $10.44. The company has a quick ratio of 1.14, a current ratio of 1.61 and a leverage ratio of 0.45.

Institutional investors weigh in on Ermenegildo Zegna

Several hedge funds and other institutional investors have recently bought and sold shares of ZGN. Goldman Sachs Group Inc. bought a new stock position in Ermenegildo Zegna during Q2, valued at approximately $590,000. Price T Rowe Associates Inc. MD increased its position in Ermenegildo Zegna by 0.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,132,721 shares of the company worth $117,450,000 after purchasing an additional 62,719 shares last quarter. State Street Corp bought a new stock position in Ermenegildo Zegna in the second quarter worth $4,775,000. American International Group Inc. bought a new stock position in Ermenegildo Zegna in the second quarter worth $234,000. Finally, Northern Trust Corp acquired a new equity stake from Ermenegildo Zegna during Q2 valued at $2,853,000. 45.26% of the shares are currently held by institutional investors.

About Ermenegildo Zegna

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Ermenegildo Zegna NV, together with its subsidiaries, designs, manufactures, markets and distributes luxury men’s clothing, footwear, leather goods and other accessories under the Zegna and Thom Browne brands. It offers luxury leisure wear for men; ceremonial suits, tuxedos, shirts, blazers, ceremonial overcoats and accessories; leather accessories including shoes, bags, belts and small leather accessories; and perfumes.

Further reading

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