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

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.2333.

Several research firms have recently commented on ZGN. The Goldman Sachs Group cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and raised their target price for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Friday, July 17th. TD Cowen lifted their price target on Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wall Street Zen raised Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. increased their price objective on Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th.

Insiders Place Their Bets

In related news, Director Alessandro Sartori sold 6,505 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 $85,345.60. Following the completion of the sale, the director directly owned 142,237 shares in the company, valued at approximately $1,866,149.44. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Ermenegildo Zegna stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 31,378 shares of company stock valued at $411,679. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB increased its holdings in Ermenegildo Zegna by 21.9% during the second quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock valued at $492,000 after buying an additional 6,800 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in Ermenegildo Zegna by 28.1% in the 2nd quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company’s stock worth $564,000 after acquiring an additional 9,492 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 purchasing an additional 483,332 shares in the last quarter. Amundi bought a new stake in shares of Ermenegildo Zegna during the 1st quarter valued at $10,686,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Ermenegildo Zegna by 48.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock valued at $29,000 after acquiring an additional 908 shares in the last quarter. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Price Performance

NYSE:ZGN opened at $15.18 on Thursday. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $14.08 and a 200 day moving average of $12.13. Ermenegildo Zegna has a 52 week low of $7.62 and a 52 week high of $15.44.

About Ermenegildo Zegna

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.