Ermenegildo Zegna (NYSE:ZGN) Sets New 12-Month Low – Should You Sell?

Shares of Ermenegildo Zegna (NYSE:ZGN) reached a new 52-week low during trading on Thursday . The stock traded as low as $6.57 and last traded at $6.66, with a volume of 279595 shares trading hands. The stock had previously closed at $7.38.

Wall Street Analyst Weigh In

ZGN has been the topic of several research reports. Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and dropped their price target for the company from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen started coverage on Ermenegildo Zegna in a research note on Tuesday, February 18th. They issued a “hold” rating and a $10.00 price target on the stock.

Ermenegildo Zegna Price Performance

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 stock’s 50 day moving average price is $8.29 and its two-hundred day moving average price is $8.27. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 12.36 and a beta of 0.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZGN. Jane Street Group LLC bought a new stake in shares of Ermenegildo Zegna during the third quarter worth $222,000. SBI Securities Co. Ltd. acquired a new position in Ermenegildo Zegna in the fourth quarter valued at about $28,000. American Assets Inc. bought a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $578,000. XTX Topco Ltd bought a new stake in Ermenegildo Zegna in the 3rd quarter valued at $215,000. Finally, Fox Run Management L.L.C. acquired a new stake in Ermenegildo Zegna in the 4th quarter valued at approximately $372,000. Institutional investors own 12.91% of the company’s stock.

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.