Ermenegildo Zegna (NYSE:ZGN) Hits New 1-Year High – What’s Next?

Ermenegildo Zegna N.V. (NYSE:ZGN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $13.38 and last traded at $13.38, with a volume of 330297 shares trading hands. The stock had previously closed at $12.52.

Analyst Ratings Changes

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

Ermenegildo Zegna Price Performance

The firm’s fifty day moving average price is $11.25 and its 200-day moving average price is $10.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59.

Ermenegildo Zegna (NYSE:ZGN) last announced 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 firm had revenue of $577.83 million for the quarter, compared to the consensus estimate of $1.17 billion. On average, sell-side analysts anticipate that Ermenegildo Zegna N.V. will post 0.46 EPS for the current year.

Ermenegildo Zegna Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, July 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, July 6th. This represents a dividend yield of 99.0%.

Insider Transactions at Ermenegildo Zegna

In related news, Director Alessandro Sartori sold 6,505 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $85,345.60. Following the completion of the sale, the director directly owned 142,237 shares in the company, valued at $1,866,149.44. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 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 $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. Over the last ninety days, insiders sold 31,378 shares of company stock worth $411,679. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Ermenegildo Zegna

Institutional investors and hedge funds have recently bought and sold shares of the stock. Matauro LLC acquired a new stake in Ermenegildo Zegna in the fourth quarter valued at $2,099,000. Quantbot Technologies LP acquired a new stake in Ermenegildo Zegna in the third quarter valued at $1,076,000. Temasek Holdings Private Ltd increased its holdings in 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 purchasing an additional 14,542,295 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Ermenegildo Zegna in the third quarter valued at $22,609,000. Finally, Federated Hermes Inc. increased its holdings in Ermenegildo Zegna by 38.3% in the third quarter. Federated Hermes Inc. now owns 304,206 shares of the company’s stock valued at $2,875,000 after purchasing an additional 84,206 shares during the period. 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.