Ermenegildo Zegna (NYSE:ZGN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ermenegildo Zegna (NYSE:ZGNFree Report) from a hold rating to a buy rating in a research note released on Tuesday.

Several other equities research analysts have also recently commented on ZGN. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Friday, July 17th. The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and increased their price objective for the company from $13.30 to $14.00 in a report on Wednesday, June 17th. JPMorgan Chase & Co. raised their price objective on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. TD Cowen lifted their target price on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, UBS Group reiterated a “buy” rating and set a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Ermenegildo Zegna currently has an average rating of “Moderate Buy” and a consensus price target of $13.23.

Check Out Our Latest Research Report on Ermenegildo Zegna

Ermenegildo Zegna Price Performance

Shares of NYSE:ZGN opened at $14.84 on Tuesday. Ermenegildo Zegna has a 1-year low of $7.61 and a 1-year 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 business has a 50-day moving average price of $13.97 and a two-hundred day moving average price of $12.01.

Insider Activity

In related news, Director Alessandro Sartori sold 6,505 shares of Ermenegildo Zegna stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through 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 Ermenegildo Zegna stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $75,676.16. Following the transaction, the chief financial officer directly owned 44,448 shares in the company, valued at $583,157.76. The trade was a 11.49% 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. Insiders sold a total of 31,378 shares of company stock valued at $411,679 in the last ninety days. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Ermenegildo Zegna

Several large investors have recently bought and sold shares of ZGN. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of 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 purchasing an additional 1,785,266 shares in the last quarter. Millennium Management LLC increased its position in shares of Ermenegildo Zegna by 73.7% in the 4th quarter. Millennium Management LLC now owns 1,188,887 shares of the company’s stock valued at $12,186,000 after buying an additional 504,546 shares in the last quarter. Amundi bought a new stake in shares of Ermenegildo Zegna in the 1st quarter valued at $10,686,000. Osborne Partners Capital Management LLC raised its stake in Ermenegildo Zegna by 34.8% during the 1st quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company’s stock worth $9,820,000 after buying an additional 243,137 shares during the period. Finally, State Street Corp raised its stake in Ermenegildo Zegna by 3.2% during the 4th quarter. State Street Corp now owns 878,867 shares of the company’s stock worth $9,014,000 after buying an additional 27,336 shares during the period. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

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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.

Further Reading

Analyst Recommendations for Ermenegildo Zegna (NYSE:ZGN)

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