Ermenegildo Zegna (NYSE:ZGN) Raised to “Buy” at Bank of America

Ermenegildo Zegna (NYSE:ZGN) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports.

Other analysts have also recently issued research reports about the company. BNP Paribas raised Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd. Morgan Stanley started coverage on Ermenegildo Zegna in a research report on Friday, November 22nd. They set an “underweight” rating and a $7.20 price objective for the company.

Ermenegildo Zegna Stock Performance

ZGN stock opened at $7.70 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. Ermenegildo Zegna has a 52-week low of $7.13 and a 52-week high of $15.26. The company’s 50 day simple moving average is $8.04 and its 200-day simple moving average is $9.18.

Institutional Investors Weigh In On Ermenegildo Zegna

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in Ermenegildo Zegna during the third quarter valued at $215,000. Jane Street Group LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at approximately $222,000. Arizona PSPRS Trust acquired a new position in Ermenegildo Zegna in the third quarter worth approximately $979,000. PDT Partners LLC raised its position in Ermenegildo Zegna by 144.0% during the third quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock valued at $547,000 after acquiring an additional 32,779 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Ermenegildo Zegna in the third quarter valued at approximately $149,000. Institutional investors and hedge funds 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.