Ermenegildo Zegna (NYSE:ZGN) Sets New 12-Month High – Here’s What Happened

Ermenegildo Zegna N.V. (NYSE:ZGN) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $15.25 and last traded at $15.39, with a volume of 102538 shares trading hands. The stock had previously closed at $14.82.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZGN. TD Cowen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $15.00 in a report on Wednesday, May 20th. UBS Group reaffirmed a “buy” rating and set a $14.50 target price 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. Wall Street Zen downgraded shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Morgan Stanley began coverage on shares of Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.51.

Ermenegildo Zegna Stock Down 2.4%

The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $12.63 and its 200-day simple moving average is $11.17.

Ermenegildo Zegna (NYSE:ZGN) last posted 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 business had revenue of $577.83 million for the quarter, compared to analysts’ expectations of $1.17 billion. On average, research analysts forecast that Ermenegildo Zegna N.V. will post 0.46 EPS for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

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

Insider Buying and Selling at Ermenegildo Zegna

In other Ermenegildo Zegna news, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $250,657.60. Following the completion of the sale, the chief executive officer owned 167,720 shares of the company’s stock, valued at $2,200,486.40. The trade was a 10.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 business’s stock in a transaction dated Friday, May 8th. The shares were 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 directly owned 44,448 shares of the company’s stock, valued at $583,157.76. This represents a 11.49% 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 sold 31,378 shares of company stock valued at $411,679 in the last quarter. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Ermenegildo Zegna

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its position in shares of Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after buying an additional 742,680 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ermenegildo Zegna by 22.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock valued at $995,000 after buying an additional 24,862 shares in the last quarter. Jane Street Group LLC acquired a new position in Ermenegildo Zegna during the 1st quarter worth approximately $1,161,000. Geode Capital Management LLC acquired a new position in Ermenegildo Zegna during the 2nd quarter worth approximately $6,245,000. Finally, JPMorgan Chase & Co. increased its position in Ermenegildo Zegna by 59,691.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company’s stock worth $250,000 after purchasing an additional 29,249 shares in the last quarter. Institutional investors own 12.91% of the company’s stock.

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.