Ermenegildo Zegna (NYSE:ZGN) Upgraded at Bank of America

Bank of America upgraded shares of Ermenegildo Zegna (NYSE:ZGN) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $8.90 price objective on the stock, down from their previous price objective of $9.40.

Several other research analysts have also recently weighed in on ZGN. Morgan Stanley initiated coverage on Ermenegildo Zegna in a report on Friday, November 22nd. They set an “underweight” rating and a $7.20 target price on the stock. BNP Paribas raised Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd.

Ermenegildo Zegna Price Performance

ZGN opened at $8.34 on Thursday. Ermenegildo Zegna has a twelve month low of $7.13 and a twelve month high of $15.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The firm’s 50-day moving average price is $8.09 and its 200 day moving average price is $9.14.

Institutional Trading of Ermenegildo Zegna

Several hedge funds have recently made changes to their positions in ZGN. Verition Fund Management LLC acquired a new stake in shares of Ermenegildo Zegna during the 3rd quarter worth about $149,000. XTX Topco Ltd acquired a new stake in shares of Ermenegildo Zegna during the third quarter valued at about $215,000. Jane Street Group LLC purchased a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at approximately $222,000. PDT Partners LLC lifted its holdings in shares of Ermenegildo Zegna by 144.0% in the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock worth $547,000 after acquiring an additional 32,779 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Ermenegildo Zegna during the 3rd quarter worth approximately $330,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

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.