Ermenegildo Zegna N.V. (NYSE:ZGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $13.2333.

Several equities research analysts have recently weighed in on ZGN shares. Wall Street Zen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. UBS Group reissued a “buy” rating and issued a $14.50 price objective on shares of Ermenegildo Zegna in a research report on Friday, May 1st. TD Cowen boosted their target price on Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and increased their target price for the stock from $13.30 to $14.00 in a research note on Wednesday, June 17th.

Insider Activity at Ermenegildo Zegna

In other Ermenegildo Zegna news, CFO Gian Franco Santhia sold 5,768 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer 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 Securities & Exchange Commission, which is available at 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 on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $85,345.60. Following the sale, 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 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 have sold a total of 31,378 shares of company stock valued at $411,679 over the last ninety days. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ermenegildo Zegna

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its position in Ermenegildo Zegna by 48.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock worth $29,000 after buying an additional 908 shares during the last quarter. California State Teachers Retirement System purchased a new position in shares of Ermenegildo Zegna during the second quarter worth $33,000. Caitong International Asset Management Co. Ltd raised its holdings 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 purchasing an additional 3,870 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Ermenegildo Zegna during the second quarter valued at $54,000. Finally, Parallel Advisors LLC purchased a new stake in Ermenegildo Zegna in the fourth quarter valued at $69,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Price Performance

Shares of NYSE ZGN opened at $15.18 on Thursday. Ermenegildo Zegna has a 12-month low of $7.62 and a 12-month high of $15.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59. The firm’s 50-day moving average price is $14.08 and its 200-day moving average price is $12.13.

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.