Ermenegildo Zegna N.V. (NYSE:ZGN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $12.5125.

A number of research firms recently commented on ZGN. TD Cowen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $15.00 in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. UBS Group reaffirmed a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a research note on Friday, May 1st. Wall Street Zen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley began coverage on shares of Ermenegildo Zegna in a research note on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price target for the company.

Insider Activity at Ermenegildo Zegna

In other news, Director Alessandro Sartori sold 6,505 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $85,345.60. Following the completion of the sale, the director owned 142,237 shares in the company, valued at approximately $1,866,149.44. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $250,657.60. Following the completion of the sale, the chief executive officer owned 167,720 shares of the company’s stock, valued at approximately $2,200,486.40. This represents a 10.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 31,378 shares of company stock worth $411,679 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ermenegildo Zegna

Several large investors have recently modified their holdings of ZGN. Millennium Management LLC raised its holdings in shares of Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after purchasing an additional 742,680 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Ermenegildo Zegna by 22.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock valued at $995,000 after purchasing an additional 24,862 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Ermenegildo Zegna in the 1st quarter valued at about $1,161,000. Geode Capital Management LLC bought a new stake in shares of Ermenegildo Zegna in the 2nd quarter valued at about $6,245,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ermenegildo Zegna by 59,691.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company’s stock valued at $250,000 after purchasing an additional 29,249 shares in the last quarter. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Price Performance

Shares of NYSE:ZGN opened at $13.31 on Friday. Ermenegildo Zegna has a 52 week low of $7.61 and a 52 week high of $13.50. The firm has a fifty day simple moving average of $11.42 and a two-hundred day simple moving average of $10.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Ermenegildo Zegna (NYSE:ZGN) last issued its quarterly earnings data on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The business had revenue of $577.83 million for the quarter, compared to analyst estimates of $1.17 billion. As a group, sell-side analysts predict that Ermenegildo Zegna will post 0.46 earnings per share for the current year.

Ermenegildo Zegna Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, July 6th. This represents a yield of 99.0%.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.