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

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.0111.

A number of analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and set a $14.50 target price on shares of Ermenegildo Zegna in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and boosted their price target for the company from $13.00 to $15.00 in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, The Goldman Sachs Group downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th.

Insider Buying and Selling at Ermenegildo Zegna

In other Ermenegildo Zegna news, Director Alessandro Sartori sold 6,505 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $85,345.60. Following the sale, the director owned 142,237 shares of the company’s stock, valued at $1,866,149.44. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 Ermenegildo Zegna stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $250,657.60. Following the sale, the chief executive officer owned 167,720 shares of the company’s stock, valued at approximately $2,200,486.40. This trade represents a 10.23% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 31,378 shares of company stock valued at $411,679 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Ermenegildo Zegna

Several hedge funds have recently bought and sold shares of ZGN. 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 worth $29,000 after buying an additional 908 shares during the last quarter. California State Teachers Retirement System bought a new stake in shares of Ermenegildo Zegna during the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd grew its position in Ermenegildo Zegna by 11,382.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock worth $40,000 after acquiring an additional 3,870 shares in the last quarter. Lazard Asset Management LLC bought a new position in Ermenegildo Zegna in the second quarter valued at $54,000. Finally, Legal & General Group Plc bought a new position in Ermenegildo Zegna in the second quarter valued at $59,000. 12.91% of the stock is currently owned by institutional investors.

Ermenegildo Zegna Stock Down 4.0%

Shares of Ermenegildo Zegna stock opened at $13.86 on Friday. Ermenegildo Zegna has a 12-month low of $7.61 and a 12-month high of $15.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. The company’s 50-day moving average price is $13.67 and its 200-day moving average price is $11.75.

Ermenegildo Zegna Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, July 6th will be paid a $0.12 dividend. This represents a yield of 102.0%. The ex-dividend date is Monday, July 6th.

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.