Ermenegildo Zegna (NYSE:ZGN) Sets New 52-Week Low – Should You Sell?

Ermenegildo Zegna (NYSE:ZGN)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.09 and last traded at $7.11, with a volume of 271553 shares trading hands. The stock had previously closed at $7.31.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ZGN. BNP Paribas raised shares of Ermenegildo Zegna to a “hold” rating in a report on Monday, December 2nd. TD Cowen started coverage on Ermenegildo Zegna in a report on Tuesday, February 18th. They set a “hold” rating and a $10.00 target price for the company. Finally, Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $9.40 to $8.90 in a research note on Thursday, January 16th.

Ermenegildo Zegna Stock Performance

The stock’s 50-day moving average is $8.40 and its 200 day moving average is $8.37. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 13.49 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Institutional Investors Weigh In On Ermenegildo Zegna

A number of large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in shares of 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 buying an additional 581,696 shares in the last quarter. Public Investment Fund grew its stake in Ermenegildo Zegna by 57.3% during the fourth quarter. Public Investment Fund now owns 5,834,324 shares of the company’s stock worth $48,192,000 after buying an additional 2,124,128 shares during the period. FIL Ltd increased its holdings in Ermenegildo Zegna by 18.0% in the 4th quarter. FIL Ltd now owns 1,672,992 shares of the company’s stock valued at $13,819,000 after purchasing an additional 255,079 shares in the last quarter. Tabor Asset Management LP raised its holdings in shares of Ermenegildo Zegna by 362.0% during the 4th quarter. Tabor Asset Management LP now owns 959,643 shares of the company’s stock valued at $7,927,000 after buying an additional 751,930 shares during the period. Finally, Alpine Investment Management Ltd acquired a new position in shares of Ermenegildo Zegna during the fourth quarter worth $7,100,000. 12.91% of the stock is owned by institutional investors and hedge funds.

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.