Ermenegildo Zegna (NYSE:ZGN) Sets New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ZGN shares. UBS Group reiterated a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research report on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 target price for the company. TD Cowen raised 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 report on Wednesday, May 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Monday, April 20th. Finally, Wall Street Zen downgraded shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.51.

Ermenegildo Zegna Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. The stock’s fifty day simple moving average is $12.44 and its two-hundred day simple moving average is $11.11.

Ermenegildo Zegna (NYSE:ZGN) last posted its quarterly earnings data on Friday, March 20th. The company reported $0.15 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 the consensus estimate of $1.17 billion. On average, equities research analysts forecast that Ermenegildo Zegna N.V. will post 0.46 EPS for the current year.

Ermenegildo Zegna Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, July 6th will be paid a dividend of $0.12 per share. 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 company’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 $250,657.60. Following the completion of the sale, the chief executive officer directly owned 167,720 shares of the company’s stock, valued at approximately $2,200,486.40. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $13.12, for a total transaction of $75,676.16. Following 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 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. Over the last ninety days, insiders sold 31,378 shares of company stock valued at $411,679. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Ermenegildo Zegna

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Ermenegildo Zegna by 483.2% during the first quarter. Bank of America Corp DE now owns 583,360 shares of the company’s stock valued at $6,079,000 after buying an additional 483,332 shares in the last quarter. Amundi acquired a new position in shares of Ermenegildo Zegna in the 1st quarter valued at about $10,686,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 period. Lombard Odier Asset Management USA Corp acquired a new position in shares of Ermenegildo Zegna in the 1st quarter valued at about $1,198,000. Finally, Walleye Capital LLC increased its holdings in shares of Ermenegildo Zegna by 1,938.7% in the 1st quarter. Walleye Capital LLC now owns 665,851 shares of the company’s stock valued at $6,938,000 after purchasing an additional 633,191 shares during the period. 12.91% of the stock is 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.