Ermenegildo Zegna (NYSE:ZGN) Hits New 52-Week High – Should You Buy?

Ermenegildo Zegna N.V. (NYSE:ZGN)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.62 and last traded at $13.37, with a volume of 28316 shares trading hands. The stock had previously closed at $13.30.

Wall Street Analyst Weigh In

ZGN has been the topic of a number of recent research reports. UBS Group reaffirmed a “buy” rating and set a $14.50 price objective on shares of Ermenegildo Zegna in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $15.00 in a report on Wednesday, May 20th. Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Monday, April 20th. Finally, Morgan Stanley started coverage on shares of Ermenegildo Zegna in a report on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Ermenegildo Zegna has an average rating of “Moderate Buy” and an average target price of $12.51.

Ermenegildo Zegna Trading Up 1.5%

The company has a 50-day simple moving average of $11.48 and a two-hundred day simple moving average of $10.78. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

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 during the quarter, compared to analyst estimates of $1.17 billion. As a group, analysts forecast that Ermenegildo Zegna N.V. will post 0.46 earnings per share for the current year.

Ermenegildo Zegna Cuts Dividend

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

Insider Activity

In other news, 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 sale, the chief financial officer owned 44,448 shares in the company, valued at approximately $583,157.76. The trade was a 11.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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 sale, the chief executive officer owned 167,720 shares in the company, valued at approximately $2,200,486.40. This trade represents a 10.23% 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. In the last 90 days, insiders have sold 31,378 shares of company stock worth $411,679. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Ermenegildo Zegna

Hedge funds have recently made changes to their positions in the stock. Matauro LLC bought a new stake in shares of Ermenegildo Zegna in the 4th quarter worth approximately $2,099,000. Quantbot Technologies LP bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $1,076,000. Federated Hermes Inc. boosted its position in shares of Ermenegildo Zegna by 38.3% in the 3rd quarter. Federated Hermes Inc. now owns 304,206 shares of the company’s stock worth $2,875,000 after purchasing an additional 84,206 shares in the last quarter. Temasek Holdings Private Ltd boosted its position in shares of Ermenegildo Zegna by 114.5% in the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock worth $257,440,000 after purchasing an additional 14,542,295 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Ermenegildo Zegna in the 3rd quarter worth about $22,609,000. 12.91% of the stock is owned by institutional investors.

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.