Ermenegildo Zegna (NYSE:ZGN) Sets New 12-Month High – What’s Next?

Ermenegildo Zegna N.V. (NYSE:ZGN) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $12.00 and last traded at $11.9650, with a volume of 160184 shares changing hands. The stock had previously closed at $11.55.

Analysts Set New Price Targets

ZGN has been the subject of several recent analyst reports. Wall Street Zen raised Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America reissued a “neutral” rating and issued a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a research note on Friday, January 16th. Morgan Stanley started coverage on 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 reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Wednesday, January 21st. Finally, UBS Group upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 target price on the stock in a report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.73.

Ermenegildo Zegna Trading Up 5.0%

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. The firm has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $10.36.

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 during the quarter, compared to analyst estimates of $1.17 billion. Equities research analysts expect that Ermenegildo Zegna N.V. will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ZGN. CWM LLC acquired a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at $25,000. California State Teachers Retirement System acquired a new position in Ermenegildo Zegna during the second quarter worth $33,000. Caitong International Asset Management Co. Ltd increased its position in 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 worth $40,000 after buying an additional 3,870 shares during the last quarter. Lazard Asset Management LLC bought a new position in Ermenegildo Zegna during the second quarter valued at about $54,000. Finally, Parallel Advisors LLC bought a new position in Ermenegildo Zegna during the fourth quarter valued at about $69,000. Institutional investors and hedge funds 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.