Ermenegildo Zegna (NYSE:ZGN) Price Target Raised to $14.00 at JPMorgan Chase & Co.

Ermenegildo Zegna (NYSE:ZGN) had its target price upped by analysts at JPMorgan Chase & Co. from $12.50 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.38% from the company’s current price.

Other equities research analysts have also issued research reports about the company. UBS Group reaffirmed a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research note on Friday, May 1st. The Goldman Sachs Group cut Ermenegildo Zegna from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $13.30 to $14.00 in a report on Wednesday, June 17th. TD Cowen upgraded Ermenegildo Zegna from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.00 to $15.00 in a research report on Wednesday, May 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. Finally, Wall Street Zen cut shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Ermenegildo Zegna has an average rating of “Moderate Buy” and an average target price of $13.01.

Ermenegildo Zegna Trading Up 0.4%

Shares of NYSE ZGN traded up $0.05 on Tuesday, hitting $12.92. The company’s stock had a trading volume of 399,343 shares, compared to its average volume of 897,003. The stock has a 50 day moving average of $13.35 and a 200-day moving average of $11.47. Ermenegildo Zegna has a 12-month low of $7.61 and a 12-month high of $15.44. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15.

Insider Activity

In related news, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the company’s stock in a transaction on 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $75,676.16. Following the completion of the sale, the chief financial officer owned 44,448 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders have sold 31,378 shares of company stock valued at $411,679. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Ermenegildo Zegna

Several institutional investors and hedge funds have recently modified their holdings of ZGN. Temasek Holdings Private Ltd grew its stake in shares of Ermenegildo Zegna by 114.5% in the third quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock valued at $257,440,000 after buying an additional 14,542,295 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Ermenegildo Zegna during the 3rd quarter worth approximately $22,609,000. Amundi acquired a new position in Ermenegildo Zegna during the 1st quarter worth approximately $10,686,000. Millennium Management LLC boosted its holdings 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 acquiring an additional 742,680 shares during the period. Finally, Geode Capital Management LLC purchased a new position in Ermenegildo Zegna in the 2nd quarter worth approximately $6,245,000. Hedge funds and other 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.