Ermenegildo Zegna (NYSE:ZGN) Coverage Initiated by Analysts at TD Cowen

TD Cowen started coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $10.00 target price on the stock.

ZGN has been the subject of a number of other reports. Morgan Stanley began coverage on Ermenegildo Zegna in a research note on Friday, November 22nd. They issued an “underweight” rating and a $7.20 target price for the company. Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $9.40 to $8.90 in a research note on Thursday, January 16th. Finally, BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a report on Monday, December 2nd.

Ermenegildo Zegna Trading Up 0.7 %

Shares of ZGN stock opened at $8.99 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. Ermenegildo Zegna has a 12-month low of $7.13 and a 12-month high of $15.26. The firm has a fifty day moving average of $8.57 and a 200-day moving average of $8.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZGN. Public Investment Fund lifted its stake in Ermenegildo Zegna by 57.3% in the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company’s stock valued at $48,192,000 after acquiring an additional 2,124,128 shares in the last quarter. Alpine Investment Management Ltd acquired a new stake in shares of Ermenegildo Zegna in the fourth quarter valued at approximately $7,100,000. Tabor Asset Management LP lifted its position in shares of Ermenegildo Zegna by 362.0% in the fourth quarter. Tabor Asset Management LP now owns 959,643 shares of the company’s stock worth $7,927,000 after purchasing an additional 751,930 shares in the last quarter. Invesco Ltd. boosted its holdings in Ermenegildo Zegna by 10.0% during the fourth quarter. Invesco Ltd. now owns 6,386,184 shares of the company’s stock worth $52,750,000 after purchasing an additional 581,696 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Ermenegildo Zegna during the 4th quarter worth about $4,172,000. 12.91% of the stock is owned by institutional investors and hedge funds.

About Ermenegildo Zegna

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.