Ermenegildo Zegna (NYSE:ZGN) Reaches New 1-Year High – Should You Buy?

Ermenegildo Zegna N.V. (NYSE:ZGNGet Free Report)’s share price hit a new 52-week high on Wednesday . The company traded as high as $13.38 and last traded at $13.38, with a volume of 330297 shares traded. The stock had previously closed at $12.52.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. TD Cowen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $15.00 in a report on Wednesday. Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price target for the company. Wall Street Zen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.51.

Check Out Our Latest Report on Ermenegildo Zegna

Ermenegildo Zegna Stock Down 0.3%

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 simple moving average is $11.36 and its 200-day simple moving average is $10.73.

Ermenegildo Zegna (NYSE:ZGNGet Free Report) last announced its quarterly earnings results on Friday, March 20th. The company reported $0.15 earnings per share (EPS) 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, research analysts expect that Ermenegildo Zegna N.V. 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. 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 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 sale, the chief financial officer directly owned 44,448 shares in the company, valued at $583,157.76. This represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 stock in a transaction on Friday, May 8th. The stock was 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 of the company’s stock, valued at approximately $2,200,486.40. This trade represents a 10.23% decrease in their ownership of the stock. 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 sold a total of 31,378 shares of company stock worth $411,679 over the last three months. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Temasek Holdings Private Ltd boosted its stake in Ermenegildo Zegna by 114.5% during the third quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock worth $257,440,000 after acquiring an additional 14,542,295 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Ermenegildo Zegna by 74.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company’s stock worth $42,822,000 after acquiring an additional 1,785,266 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Ermenegildo Zegna by 1.2% during the third quarter. Artisan Partners Limited Partnership now owns 2,123,543 shares of the company’s stock worth $20,067,000 after acquiring an additional 24,894 shares in the last quarter. Portolan Capital Management LLC boosted its stake in Ermenegildo Zegna by 15.6% during the third quarter. Portolan Capital Management LLC now owns 1,369,176 shares of the company’s stock worth $12,939,000 after acquiring an additional 185,190 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Ermenegildo Zegna by 73.7% during the fourth quarter. Millennium Management LLC now owns 1,188,887 shares of the company’s stock worth $12,186,000 after acquiring an additional 504,546 shares in the last quarter. 12.91% of the stock is owned by institutional investors.

Ermenegildo Zegna Company Profile

(Get Free Report)

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.

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