Bank of America Lowers Ermenegildo Zegna (NYSE:ZGN) to Neutral

Bank of America downgraded shares of Ermenegildo Zegna (NYSE:ZGN) from a buy rating to a neutral rating in a research note released on Monday, Marketbeat.com reports. They currently have $9.80 price target on the stock, down from their prior price target of $13.00.

Ermenegildo Zegna Stock Up 0.9 %

Shares of NYSE ZGN opened at $8.53 on Monday. Ermenegildo Zegna has a 52-week low of $7.89 and a 52-week high of $15.26. The firm has a fifty day moving average of $10.25 and a 200-day moving average of $11.74. The stock has a market capitalization of $3.46 billion, a PE ratio of 16.09, a P/E/G ratio of 2.15 and a beta of 0.62. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24.

Institutional Trading of Ermenegildo Zegna

Several institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC grew its stake in shares of Ermenegildo Zegna by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after buying an additional 2,100 shares during the period. Quadrature Capital Ltd grew its stake in shares of Ermenegildo Zegna by 49.7% during the 4th quarter. Quadrature Capital Ltd now owns 38,579 shares of the company’s stock valued at $446,000 after buying an additional 12,805 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ermenegildo Zegna during the 4th quarter valued at $264,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ermenegildo Zegna during the 1st quarter valued at $353,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Ermenegildo Zegna during the 1st quarter worth $563,000. 12.91% of the stock is owned by hedge funds and other institutional investors.

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.