Ermenegildo Zegna (NYSE:ZGN) Earns Underweight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Ermenegildo Zegna (NYSE:ZGN) in a report published on Friday morning, Marketbeat reports. The firm issued an underweight rating and a $7.20 target price on the stock.

Separately, Bank of America cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $13.00 to $9.80 in a report on Monday, September 23rd.

Ermenegildo Zegna Stock Up 0.4 %

NYSE ZGN opened at $7.70 on Friday. Ermenegildo Zegna has a one year low of $7.13 and a one year high of $15.26. The stock has a 50-day moving average of $8.26 and a 200 day moving average of $10.24. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors increased its position in shares of Ermenegildo Zegna by 34.6% during the 1st quarter. Capital World Investors now owns 5,195,013 shares of the company’s stock valued at $76,107,000 after purchasing an additional 1,335,945 shares during the last quarter. Public Investment Fund raised its stake in shares of Ermenegildo Zegna by 25.9% in the second quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock valued at $43,929,000 after acquiring an additional 764,122 shares during the period. QVIDTVM Management LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth about $2,908,000. Roubaix Capital LLC purchased a new position in shares of Ermenegildo Zegna during the 3rd quarter worth about $2,481,000. Finally, Liontrust Investment Partners LLP bought a new position in Ermenegildo Zegna during the 2nd quarter valued at about $2,960,000. 12.91% of the stock is owned by hedge funds and other institutional investors.

Ermenegildo Zegna Company Profile

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.