Ermenegildo Zegna (NYSE:ZGN) Reaches New 1-Year Low - Here's What Happened

Ermenegildo Zegna (NYSE:ZGN - Get Free Report)'s stock 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 Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America raised Ermenegildo Zegna from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen started coverage on shares of Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 price target for the company.

Ermenegildo Zegna Trading Down 3.2 %

The stock has a market cap of $2.69 billion, a P/E ratio of 12.45 and a beta of 0.73. The stock's 50-day moving average is $7.83 and its two-hundred day moving average is $8.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZGN. SBI Securities Co. Ltd. purchased a new stake in shares of Ermenegildo Zegna in the fourth quarter worth about $28,000. Entropy Technologies LP purchased a new stake in shares of Ermenegildo Zegna during the 4th quarter worth approximately $84,000. Mirabella Financial Services LLP bought a new position in shares of Ermenegildo Zegna during the 4th quarter valued at approximately $87,000. Verition Fund Management LLC purchased a new position in shares of Ermenegildo Zegna in the third quarter valued at $149,000. Finally, Vident Advisory LLC purchased a new position in shares of Ermenegildo Zegna in the fourth quarter valued at $126,000. Institutional investors own 12.91% of the company's stock.

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.