Ermenegildo Zegna (NYSE:ZGN) Rating Lowered to “Hold” at Wall Street Zen

Ermenegildo Zegna (NYSE:ZGN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Monday.

Several other research analysts have also recently issued reports on the stock. UBS Group restated a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a report on Friday, May 1st. The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and raised their price target for the stock from $13.30 to $14.00 in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. JPMorgan Chase & Co. upped their price objective on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Finally, TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and increased their target price for the stock from $13.00 to $15.00 in a report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.01.

Ermenegildo Zegna Stock Down 0.3%

Shares of Ermenegildo Zegna stock opened at $13.86 on Monday. 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 business’s 50 day simple moving average is $13.67 and its two-hundred day simple moving average is $11.76. Ermenegildo Zegna has a one year low of $7.61 and a one year high of $15.44.

Insider Activity at Ermenegildo Zegna

In other Ermenegildo Zegna 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 value of $250,657.60. Following the completion of the transaction, the chief executive officer directly owned 167,720 shares in the company, 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 can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 of the company’s stock, valued at approximately $1,866,149.44. This represents a 4.37% 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. Insiders have sold a total of 31,378 shares of company stock worth $411,679 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ermenegildo Zegna

Several hedge funds and other institutional investors have recently modified their holdings of ZGN. EverSource Wealth Advisors LLC lifted its stake 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 worth $29,000 after buying an additional 908 shares in the last quarter. California State Teachers Retirement System purchased a new stake in shares of Ermenegildo Zegna during the second quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Ermenegildo Zegna by 11,382.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock valued at $40,000 after buying an additional 3,870 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Ermenegildo Zegna during the second quarter valued at approximately $54,000. Finally, Legal & General Group Plc bought a new stake in shares of Ermenegildo Zegna during the second quarter valued at approximately $59,000. 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.