Ermenegildo Zegna (NYSE:ZGN) Sets New 52-Week High – What’s Next?

Ermenegildo Zegna N.V. (NYSE:ZGN) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.25 and last traded at $15.39, with a volume of 102538 shares traded. The stock had previously closed at $14.82.

Wall Street Analyst Weigh In

ZGN has been the subject of several research reports. TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $15.00 in a research note on Wednesday, May 20th. Wall Street Zen downgraded shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. UBS Group reiterated a “buy” rating and set a $14.50 price objective on shares of Ermenegildo Zegna in a research note on Friday, May 1st. Finally, Morgan Stanley started 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 objective for the company. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ermenegildo Zegna currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.51.

Ermenegildo Zegna Stock Performance

The stock’s fifty day simple moving average is $12.44 and its two-hundred day simple moving average is $11.11. 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 issued its earnings results on Friday, March 20th. The company reported $0.15 earnings per share 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 the consensus estimate of $1.17 billion. As a group, equities research analysts anticipate that Ermenegildo Zegna N.V. will post 0.46 EPS for the current year.

Ermenegildo Zegna Cuts Dividend

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

Insider Transactions at Ermenegildo Zegna

In other news, CFO Gian Franco Santhia sold 5,768 shares of the company’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 $75,676.16. Following the completion of 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 transaction was disclosed in a legal filing 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, Director Alessandro Sartori sold 6,505 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $85,345.60. Following the transaction, the director owned 142,237 shares of the company’s stock, valued at $1,866,149.44. This represents a 4.37% 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. Over the last quarter, insiders sold 31,378 shares of company stock worth $411,679. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ermenegildo Zegna

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Ermenegildo Zegna by 48.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock worth $29,000 after acquiring an additional 908 shares during the last quarter. California State Teachers Retirement System bought a new position in shares of Ermenegildo Zegna during the second quarter worth about $33,000. Caitong International Asset Management Co. Ltd grew its position in shares of Ermenegildo Zegna by 11,382.4% during 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 during the last quarter. Lazard Asset Management LLC bought a new position in Ermenegildo Zegna in the 2nd quarter valued at about $54,000. Finally, Parallel Advisors LLC bought a new position in Ermenegildo Zegna in the 4th quarter valued at about $69,000. Institutional investors own 12.91% of the company’s stock.

About Ermenegildo Zegna

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.