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

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $12.5125.

Several equities analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a research report on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 price target for the company. UBS Group restated a “buy” rating and issued a $14.50 price target on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and upped their price target for the company from $13.00 to $15.00 in a research report on Wednesday, May 20th. Finally, Wall Street Zen lowered shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Saturday.

Insider Activity

In other news, Director Alessandro Sartori sold 6,505 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $85,345.60. Following the sale, the director directly owned 142,237 shares of the company’s stock, valued at approximately $1,866,149.44. This represents a 4.37% decrease in their position. The transaction was disclosed in a document filed 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, CFO Gian Franco Santhia sold 5,768 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 $75,676.16. Following the transaction, the chief financial officer directly owned 44,448 shares in the company, valued at approximately $583,157.76. This represents a 11.49% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 31,378 shares of company stock valued at $411,679. 1.20% of the stock is currently owned by 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 lifted its stake in shares of Ermenegildo Zegna by 1.2% in the third quarter. Artisan Partners Limited Partnership now owns 2,123,543 shares of the company’s stock valued at $20,067,000 after buying an additional 24,894 shares in the last quarter. Portolan Capital Management LLC lifted its stake in shares of Ermenegildo Zegna by 15.6% in the third quarter. Portolan Capital Management LLC now owns 1,369,176 shares of the company’s stock valued at $12,939,000 after buying an additional 185,190 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Ermenegildo Zegna by 73.7% in the fourth 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. 12.91% of the stock is owned by institutional investors.

Ermenegildo Zegna Price Performance

ZGN stock opened at $14.73 on Friday. The company has a 50 day simple moving average of $11.86 and a 200 day simple moving average of $10.90. Ermenegildo Zegna has a 1 year low of $7.61 and a 1 year high of $14.98. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Ermenegildo Zegna (NYSE:ZGN) last released its quarterly earnings data on Friday, March 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The company had revenue of $577.83 million for the quarter, compared to analyst estimates of $1.17 billion. On average, analysts anticipate that Ermenegildo Zegna will post 0.46 EPS for the current fiscal 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 paid a $0.12 dividend. This represents a dividend yield of 99.0%. The ex-dividend date of this dividend is Monday, July 6th.

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.