Ermenegildo Zegna (NYSE:ZGN) Raised to “Buy” at Wall Street Zen

Ermenegildo Zegna (NYSE:ZGN) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Monday, April 20th. TD Cowen upgraded Ermenegildo Zegna from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $15.00 in a report on Wednesday, May 20th. Finally, UBS Group reiterated a “buy” rating and issued a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Ermenegildo Zegna presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.51.

Ermenegildo Zegna Stock Performance

ZGN stock opened at $14.71 on Friday. Ermenegildo Zegna has a 1 year low of $7.61 and a 1 year 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. The stock’s 50 day moving average price is $12.80 and its 200 day moving average price is $11.23.

Ermenegildo Zegna (NYSE:ZGN) last posted its earnings results on Friday, March 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The company had revenue of $577.83 million during the quarter, compared to analysts’ expectations of $1.17 billion. As a group, research analysts forecast that Ermenegildo Zegna will post 0.46 EPS for the current fiscal year.

Insider Activity

In other news, Director Alessandro Sartori sold 6,505 shares of the firm’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 $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 trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $75,676.16. Following 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 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. Insiders sold 31,378 shares of company stock worth $411,679 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ermenegildo Zegna

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in Ermenegildo Zegna by 48.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock worth $29,000 after acquiring an additional 908 shares during the last quarter. California State Teachers Retirement System bought a new position in Ermenegildo Zegna in the second quarter worth about $33,000. Caitong International Asset Management Co. Ltd lifted its holdings in Ermenegildo Zegna by 11,382.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock worth $40,000 after acquiring an additional 3,870 shares during the last quarter. Lazard Asset Management LLC bought a new position in Ermenegildo Zegna in the second quarter worth about $54,000. Finally, Legal & General Group Plc bought a new position in Ermenegildo Zegna in the second quarter worth about $59,000. 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.