Ermenegildo Zegna (NYSE:ZGN) Stock Rating Lowered by Bank of America

Ermenegildo Zegna (NYSE:ZGN) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a $9.80 target price on the stock, down from their prior target price of $13.00. Bank of America‘s target price indicates a potential upside of 15.98% from the company’s previous close.

Ermenegildo Zegna Trading Up 6.6 %

Shares of NYSE ZGN opened at $8.45 on Monday. Ermenegildo Zegna has a twelve month low of $7.89 and a twelve month high of $15.26. The firm has a market cap of $3.42 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 2.03 and a beta of 0.62. The business has a fifty day simple moving average of $10.30 and a two-hundred day simple moving average of $11.79. The company has a quick ratio of 0.76, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On Ermenegildo Zegna

Several institutional investors have recently bought and sold shares of the company. nVerses Capital LLC boosted its holdings in Ermenegildo Zegna by 525.0% in the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after acquiring an additional 2,100 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $264,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ermenegildo Zegna during the 1st quarter valued at approximately $353,000. Quadrature Capital Ltd raised its holdings in shares of Ermenegildo Zegna by 49.7% in the fourth quarter. Quadrature Capital Ltd now owns 38,579 shares of the company’s stock worth $446,000 after buying an additional 12,805 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Ermenegildo Zegna during the first quarter worth $563,000. 12.91% of the stock is currently 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.