Ermenegildo Zegna (NYSE:ZGN) Stock Rating Upgraded by BNP Paribas

Ermenegildo Zegna (NYSE:ZGN) was upgraded by research analysts at BNP Paribas to a “hold” rating in a research report issued on Monday,Zacks.com reports.

ZGN has been the topic of a number of other research reports. Morgan Stanley began coverage on Ermenegildo Zegna in a report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price objective on the stock. Bank of America cut Ermenegildo Zegna from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $9.80 in a research report on Monday, September 23rd.

Ermenegildo Zegna Trading Down 2.4 %

Shares of NYSE ZGN opened at $8.22 on Monday. The stock’s 50-day moving average is $8.14 and its two-hundred day moving average is $9.99. 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 1-year low of $7.13 and a 1-year high of $15.26.

Institutional Trading of Ermenegildo Zegna

Hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC lifted its position in Ermenegildo Zegna by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after acquiring an additional 2,100 shares during the period. Verition Fund Management LLC acquired a new stake in Ermenegildo Zegna during the 3rd quarter worth approximately $149,000. XTX Topco Ltd acquired a new stake in Ermenegildo Zegna during the 3rd quarter worth approximately $215,000. Jane Street Group LLC acquired a new stake in Ermenegildo Zegna during the 3rd quarter worth approximately $222,000. Finally, SG Americas Securities LLC acquired a new stake in Ermenegildo Zegna during the 3rd quarter worth approximately $330,000. 12.91% of the stock is owned by institutional investors and hedge funds.

About Ermenegildo Zegna

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.