Ermenegildo Zegna (NYSE:ZGN) Hits New 52-Week Low – Here’s What Happened

Ermenegildo Zegna (NYSE:ZGN)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.05 and last traded at $6.46, with a volume of 42097 shares. The stock had previously closed at $6.18.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ZGN. Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen began coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They issued a “hold” rating and a $10.00 target price for the company.

Ermenegildo Zegna Stock Down 6.0 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 12.64 and a beta of 0.73. The firm has a fifty day moving average price of $7.87 and a 200 day moving average price of $8.14.

Institutional Investors Weigh In On Ermenegildo Zegna

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth $28,000. Entropy Technologies LP purchased a new stake in Ermenegildo Zegna in the 4th quarter valued at approximately $84,000. Mirabella Financial Services LLP acquired a new stake in Ermenegildo Zegna during the 4th quarter valued at $87,000. Verition Fund Management LLC acquired a new position in shares of Ermenegildo Zegna in the third quarter worth $149,000. Finally, Vident Advisory LLC purchased a new stake in shares of Ermenegildo Zegna in the fourth quarter valued at $126,000. Institutional investors and hedge funds 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.