Ermenegildo Zegna (NYSE:ZGN) Reaches New 52-Week High – Time to Buy?

Ermenegildo Zegna N.V. (NYSE:ZGNGet Free Report) reached a new 52-week high on Thursday . The company traded as high as $15.95 and last traded at $14.9560, with a volume of 17381 shares changing hands. The stock had previously closed at $15.21.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZGN. Wall Street Zen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. TD Cowen boosted their price objective on Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Friday, July 17th. Finally, UBS Group reiterated a “buy” rating and issued a $14.50 price objective on shares of Ermenegildo Zegna in a research note 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. According to MarketBeat, Ermenegildo Zegna has a consensus rating of “Moderate Buy” and a consensus price target of $13.23.

Read Our Latest Stock Analysis on ZGN

Ermenegildo Zegna Stock Performance

The company has a 50 day simple moving average of $14.08 and a 200-day simple moving average of $12.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Insider Activity

In related news, Director Alessandro Sartori sold 6,505 shares of the company’s 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 sale, the director directly owned 142,237 shares in the company, valued at approximately $1,866,149.44. This represents a 4.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 value 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 represents a 10.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $411,679 over the last quarter. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Ermenegildo Zegna

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position 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 buying an additional 908 shares in the last quarter. Vident Advisory LLC grew its position in Ermenegildo Zegna by 6.5% in the fourth quarter. Vident Advisory LLC now owns 18,001 shares of the company’s stock worth $185,000 after acquiring an additional 1,097 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in Ermenegildo Zegna by 12.9% in the third quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company’s stock worth $109,000 after acquiring an additional 1,323 shares in the last quarter. Deutsche Bank AG increased its stake in Ermenegildo Zegna by 3.3% in the fourth quarter. Deutsche Bank AG now owns 57,477 shares of the company’s stock valued at $589,000 after acquiring an additional 1,822 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Ermenegildo Zegna by 73.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company’s stock valued at $61,000 after acquiring an additional 3,033 shares during the last quarter. Hedge funds and other institutional investors own 12.91% of the company’s stock.

About Ermenegildo Zegna

(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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