Ermenegildo Zegna (NYSE:ZGN) Sets New 1-Year Low – Should You Sell?

Ermenegildo Zegna (NYSE:ZGN) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $7.09 and last traded at $7.11, with a volume of 271553 shares traded. The stock had previously closed at $7.31.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ZGN shares. BNP Paribas raised Ermenegildo Zegna to a “hold” rating in a report on Monday, December 2nd. Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $9.40 to $8.90 in a research note on Thursday, January 16th. Finally, TD Cowen initiated coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They set a “hold” rating and a $10.00 target price for the company.

Ermenegildo Zegna Stock Up 9.7 %

The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.15 billion, a PE ratio of 14.65 and a beta of 0.69. The firm’s fifty day moving average is $8.38 and its 200-day moving average is $8.34.

Institutional Trading of Ermenegildo Zegna

A number of institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Ermenegildo Zegna in the fourth quarter valued at $28,000. Entropy Technologies LP acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth $84,000. Mirabella Financial Services LLP acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth $87,000. Verition Fund Management LLC acquired a new stake in Ermenegildo Zegna during the 3rd quarter valued at $149,000. Finally, Vident Advisory LLC acquired a new position in Ermenegildo Zegna in the 4th quarter valued at about $126,000. 12.91% of the stock is currently 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.