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

Ermenegildo Zegna N.V. (NYSE:ZGN) has received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.5125.

ZGN has been the topic of several research analyst reports. TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $15.00 in a research report on Wednesday, May 20th. UBS Group reiterated a “buy” rating and set a $14.50 price objective on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Wall Street Zen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th.

Insider Activity

In other news, Director Alessandro Sartori sold 6,505 shares of the business’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 $85,345.60. Following the transaction, the director directly owned 142,237 shares in the company, valued at $1,866,149.44. The trade was 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, CFO Gian Franco Santhia sold 5,768 shares of the business’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 transaction, the chief financial officer owned 44,448 shares in the company, valued at approximately $583,157.76. This represents a 11.49% decrease in their ownership of the stock. 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 have sold a total of 31,378 shares of company stock worth $411,679 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of Ermenegildo Zegna by 483.2% during the 1st quarter. Bank of America Corp DE now owns 583,360 shares of the company’s stock valued at $6,079,000 after acquiring an additional 483,332 shares in the last quarter. Amundi purchased a new position in shares of Ermenegildo Zegna during the 1st quarter valued at $10,686,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ermenegildo Zegna by 48.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock valued at $29,000 after acquiring an additional 908 shares in the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in shares of Ermenegildo Zegna during the 1st quarter valued at $1,198,000. Finally, Walleye Capital LLC grew its holdings in shares of Ermenegildo Zegna by 1,938.7% during the 1st quarter. Walleye Capital LLC now owns 665,851 shares of the company’s stock valued at $6,938,000 after acquiring an additional 633,191 shares in the last quarter. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Ermenegildo Zegna Price Performance

NYSE ZGN opened at $14.51 on Wednesday. Ermenegildo Zegna has a twelve month low of $7.61 and a twelve month high of $15.44. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average price is $12.96 and its two-hundred day moving average price is $11.30.

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

Ermenegildo Zegna Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, July 6th will be given a dividend of $0.12 per share. This represents a yield of 99.0%. 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.