Ermenegildo Zegna (NYSE:ZGN) Stock Rating Upgraded by Wall Street Zen

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

Several other brokerages also recently commented on ZGN. The Goldman Sachs Group downgraded 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 report on Wednesday, June 17th. 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. TD Cowen raised their price objective on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.23.

Ermenegildo Zegna Stock Up 4.0%

ZGN stock opened at $14.90 on Tuesday. The business’s 50-day moving average price is $13.86 and its two-hundred day moving average price is $11.92. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. Ermenegildo Zegna has a 1-year low of $7.61 and a 1-year high of $15.44.

Insiders Place Their Bets

In other news, Director Alessandro Sartori sold 6,505 shares of Ermenegildo Zegna stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $85,345.60. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the business’s stock in a transaction on Friday, May 8th. The stock was 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 in the company, valued at approximately $2,200,486.40. This represents a 10.23% decrease in their position. 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 a total of 31,378 shares of company stock valued at $411,679 in the last quarter. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ermenegildo Zegna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Matauro LLC bought a new stake in shares of Ermenegildo Zegna during the 4th quarter worth approximately $2,099,000. Osborne Partners Capital Management LLC increased its holdings in Ermenegildo Zegna by 34.8% during the first quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company’s stock worth $9,820,000 after buying an additional 243,137 shares during the last quarter. Spectrum Strategic Capital Management LLC increased its holdings in Ermenegildo Zegna by 903.3% during the fourth quarter. Spectrum Strategic Capital Management LLC now owns 111,572 shares of the company’s stock worth $1,144,000 after buying an additional 100,452 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its position in Ermenegildo Zegna by 82.3% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company’s stock worth $3,695,000 after acquiring an additional 160,078 shares in the last quarter. Finally, RFG Advisory LLC bought a new stake in Ermenegildo Zegna during the fourth quarter worth $1,165,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.