Ermenegildo Zegna (NYSE:ZGN) Price Target Raised to $14.00 at JPMorgan Chase & Co.

Ermenegildo Zegna (NYSE:ZGN) had its target price upped by JPMorgan Chase & Co. from $12.50 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.38% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. Wall Street Zen lowered shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. TD Cowen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $15.00 in a research note on Wednesday, May 20th. The Goldman Sachs Group downgraded shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and raised their price target for the stock from $13.30 to $14.00 in a report on Wednesday, June 17th. Finally, UBS Group reaffirmed a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Ermenegildo Zegna has an average rating of “Moderate Buy” and an average target price of $13.01.

Ermenegildo Zegna Trading Up 0.4%

Shares of NYSE ZGN traded up $0.05 during trading on Tuesday, hitting $12.92. 399,343 shares of the company were exchanged, compared to its average volume of 897,003. The company has a fifty day moving average price of $13.35 and a 200-day moving average price of $11.47. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15. Ermenegildo Zegna has a 12-month low of $7.61 and a 12-month high of $15.44.

Insider Buying and Selling

In other news, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of Ermenegildo Zegna stock in a transaction on 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 directly owned 167,720 shares of the company’s stock, valued at approximately $2,200,486.40. The trade was a 10.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gian Franco Santhia sold 5,768 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $75,676.16. Following the completion of the transaction, the chief financial officer owned 44,448 shares of the company’s stock, valued at approximately $583,157.76. The trade was a 11.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 over the last 90 days. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Ermenegildo Zegna

A number of institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Ermenegildo Zegna by 48.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock valued at $29,000 after purchasing an additional 908 shares in the last quarter. California State Teachers Retirement System purchased a new position in Ermenegildo Zegna in the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Ermenegildo Zegna by 11,382.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock valued at $40,000 after acquiring an additional 3,870 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Ermenegildo Zegna during the 2nd quarter worth approximately $54,000. Finally, Parallel Advisors LLC acquired a new stake in shares of Ermenegildo Zegna in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

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.