Ermenegildo Zegna N.V. (NYSE:ZGN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $13.0111.

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and raised their target price for the company from $13.30 to $14.00 in a report on Wednesday, June 17th. Wall Street Zen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group reiterated a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th.

Ermenegildo Zegna Price Performance

ZGN stock traded down $0.13 during midday trading on Friday, reaching $13.44. The company had a trading volume of 1,239,968 shares, compared to its average volume of 1,272,061. Ermenegildo Zegna has a 1-year low of $7.61 and a 1-year high of $15.44. The stock has a 50 day moving average price of $13.59 and a 200-day moving average price of $11.65. 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 Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be given a dividend of $0.12 per share. This represents a dividend yield of 102.0%. The ex-dividend date is Monday, July 6th.

Insider Buying and Selling

In other Ermenegildo Zegna news, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of Ermenegildo Zegna 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 transaction, the chief executive officer owned 167,720 shares in the company, valued at $2,200,486.40. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 stock was sold at an average price of $13.12, for a total value of $75,676.16. Following the transaction, the chief financial officer directly owned 44,448 shares of the company’s stock, valued at approximately $583,157.76. The trade was a 11.49% decrease in their position. 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 sold a total of 31,378 shares of company stock worth $411,679 in the last ninety days. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in Ermenegildo Zegna by 48.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock valued at $29,000 after purchasing an additional 908 shares during the last quarter. California State Teachers Retirement System bought a new position in shares of Ermenegildo Zegna in the 2nd quarter valued at $33,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ermenegildo Zegna by 11,382.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock valued at $40,000 after acquiring an additional 3,870 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Ermenegildo Zegna during the 2nd quarter valued at $54,000. Finally, Parallel Advisors LLC acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter valued at $69,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.