Ermenegildo Zegna (NYSE:ZGN) Stock Rating Upgraded by 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, MarketBeat Ratings reports. Bank of America currently has $8.90 target price on the stock, down from their previous target price of $9.40.

Other analysts have also issued research reports about the stock. BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd. Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a research report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 target price on the stock.

Ermenegildo Zegna Stock Performance

Shares of Ermenegildo Zegna stock opened at $8.12 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. The firm has a fifty day moving average price of $8.05 and a 200 day moving average price of $9.17. Ermenegildo Zegna has a 1 year low of $7.13 and a 1 year high of $15.26.

Institutional Trading of Ermenegildo Zegna

Institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC acquired a new position in shares of Ermenegildo Zegna in the third quarter worth $149,000. XTX Topco Ltd acquired a new position in shares of Ermenegildo Zegna in the third quarter worth $215,000. Jane Street Group LLC acquired a new position in shares of Ermenegildo Zegna in the third quarter worth $222,000. SG Americas Securities LLC acquired a new position in shares of Ermenegildo Zegna in the third quarter worth $330,000. Finally, PDT Partners LLC grew its stake in shares of Ermenegildo Zegna by 144.0% in the third quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock worth $547,000 after acquiring an additional 32,779 shares in the last quarter. 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.