Ermenegildo Zegna (NYSE:ZGN) Hits New 52-Week High – Should You Buy?

Ermenegildo Zegna N.V. (NYSE:ZGN) hit a new 52-week high on Thursday . The company traded as high as $13.07 and last traded at $12.9710, with a volume of 1170652 shares. The stock had previously closed at $12.12.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZGN. Bank of America reaffirmed a “neutral” rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a research report on Friday, January 16th. Morgan Stanley began coverage on Ermenegildo Zegna in a research note on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 price objective on the stock. UBS Group reissued a “buy” rating and issued a $14.50 price objective on shares of Ermenegildo Zegna in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Monday, April 20th. Finally, TD Cowen increased their target price on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.26.

Ermenegildo Zegna Trading Up 1.2%

The stock has a 50 day moving average price of $11.00 and a 200-day moving average price of $10.56. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15.

Ermenegildo Zegna (NYSE:ZGN) last issued its quarterly earnings data on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.11). The firm had revenue of $577.83 million for the quarter, compared to analysts’ expectations of $1.17 billion. On average, equities research analysts expect that Ermenegildo Zegna N.V. will post 0.46 earnings per share for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Matauro LLC bought a new position in shares of Ermenegildo Zegna during the fourth quarter worth $2,099,000. Quantbot Technologies LP bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at approximately $1,076,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Ermenegildo Zegna during the third quarter worth $22,609,000. Temasek Holdings Private Ltd grew its holdings in Ermenegildo Zegna by 114.5% during the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock valued at $257,440,000 after purchasing an additional 14,542,295 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Ermenegildo Zegna by 38.3% in the third quarter. Federated Hermes Inc. now owns 304,206 shares of the company’s stock worth $2,875,000 after buying an additional 84,206 shares during the period. 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.