Ermenegildo Zegna (NYSE:ZGN) Hits New 12-Month High – Time to Buy?

Ermenegildo Zegna N.V. (NYSE:ZGN)’s share price hit a new 52-week high on Tuesday . The company traded as high as $13.62 and last traded at $13.37, with a volume of 28316 shares trading hands. The stock had previously closed at $13.30.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZGN. Wall Street Zen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price target on the stock. TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $15.00 in a report on Wednesday, May 20th. UBS Group reiterated a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.51.

Ermenegildo Zegna Trading Up 3.0%

The firm’s fifty day moving average price is $11.65 and its two-hundred day moving average price is $10.84. 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 issued its earnings results on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). The firm had revenue of $577.83 million during the quarter, compared to the consensus estimate of $1.17 billion. Equities analysts anticipate that Ermenegildo Zegna N.V. will post 0.46 EPS for the current year.

Ermenegildo Zegna Cuts Dividend

The company also recently announced 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 is Monday, July 6th. This represents a dividend yield of 99.0%.

Insider Activity

In other news, Director Alessandro Sartori sold 6,505 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 $85,345.60. Following the completion of the sale, the director directly owned 142,237 shares of the company’s stock, valued at $1,866,149.44. The trade was a 4.37% 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 company’s stock in a transaction dated Friday, May 8th. The stock was 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. The trade was a 11.49% 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. Insiders sold a total of 31,378 shares of company stock worth $411,679 in the last three months. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Ermenegildo Zegna

Institutional investors have recently modified their holdings of the business. Temasek Holdings Private Ltd lifted its stake in Ermenegildo Zegna by 114.5% in the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock worth $257,440,000 after purchasing an additional 14,542,295 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Ermenegildo Zegna in the 3rd quarter worth approximately $22,609,000. Amundi purchased a new stake in Ermenegildo Zegna in the 1st quarter worth approximately $10,686,000. Millennium Management LLC lifted its stake in Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after purchasing an additional 742,680 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new stake in shares of Ermenegildo Zegna during the 2nd quarter valued at $6,245,000. 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.