Ermenegildo Zegna N.V. (NYSE:ZGN) Receives $12.51 Consensus PT from Brokerages

Ermenegildo Zegna N.V. (NYSE:ZGN) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $12.6778.

A number of equities analysts have recently weighed in on the company. TD Cowen raised Ermenegildo Zegna from a “hold” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $15.00 in a research note on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. Wall Street Zen lowered Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Sunday. UBS Group reaffirmed a “buy” rating and issued a $14.50 price objective on shares of Ermenegildo Zegna in a research note on Friday, May 1st. Finally, The Goldman Sachs Group lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $13.30 to $14.00 in a research note on Wednesday, June 17th.

Ermenegildo Zegna Trading Down 2.6%

NYSE:ZGN opened at $13.17 on Wednesday. The stock has a 50-day simple moving average of $13.23 and a two-hundred day simple moving average of $11.40. Ermenegildo Zegna has a 52-week low of $7.61 and a 52-week high of $15.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Ermenegildo Zegna (NYSE:ZGN) last released its quarterly earnings results on Friday, March 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.11). The business had revenue of $577.83 million during the quarter, compared to analyst estimates of $1.17 billion. On average, sell-side analysts forecast that Ermenegildo Zegna will post 0.46 earnings per share for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

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

Insider Buying and Selling

In related news, CFO Gian Franco Santhia sold 5,768 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $75,676.16. Following the sale, the chief financial officer directly owned 44,448 shares in the company, valued at approximately $583,157.76. The trade was a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction dated Friday, May 8th. The stock was 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 in the company, valued at $2,200,486.40. This represents a 10.23% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 31,378 shares of company stock worth $411,679. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Ermenegildo Zegna

Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Ermenegildo Zegna by 48.3% in the first 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 period. Vident Advisory LLC increased its holdings in Ermenegildo Zegna by 6.5% during the 4th quarter. Vident Advisory LLC now owns 18,001 shares of the company’s stock worth $185,000 after purchasing an additional 1,097 shares during the period. Orion Porfolio Solutions LLC boosted its position in Ermenegildo Zegna by 12.9% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company’s stock valued at $109,000 after acquiring an additional 1,323 shares in the last quarter. Deutsche Bank AG boosted its position in Ermenegildo Zegna by 3.3% during the 4th 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Ermenegildo Zegna by 73.7% during the 2nd 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 in the last quarter. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

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.