Ermenegildo Zegna (NYSE:ZGN) Upgraded at Wall Street Zen

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

Several other research firms have also weighed in on ZGN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Friday, July 17th. TD Cowen increased their target price on Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. UBS Group reaffirmed a “buy” rating and issued a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. Finally, The Goldman Sachs Group downgraded shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their price target for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Ermenegildo Zegna currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.23.

Ermenegildo Zegna Stock Up 4.0%

Shares of ZGN opened at $14.90 on Tuesday. 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 stock has a 50 day simple moving average of $13.86 and a 200-day simple moving average of $11.92. Ermenegildo Zegna has a 1 year low of $7.61 and a 1 year high of $15.44.

Insider Buying and Selling at Ermenegildo Zegna

In other Ermenegildo Zegna news, Director Alessandro Sartori sold 6,505 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $85,345.60. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Ermenegildo Zegna stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $75,676.16. Following the completion of the sale, the chief financial officer directly owned 44,448 shares of the company’s stock, valued at $583,157.76. This trade 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. In the last ninety days, insiders have sold 31,378 shares of company stock worth $411,679. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ermenegildo Zegna

Large investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Ermenegildo Zegna by 74.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company’s stock worth $42,822,000 after buying an additional 1,785,266 shares during the last quarter. Amundi bought a new stake in shares of Ermenegildo Zegna in the 1st quarter valued at about $10,686,000. Millennium Management LLC raised its position in shares of Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after acquiring an additional 742,680 shares during the period. Geode Capital Management LLC acquired a new position in Ermenegildo Zegna during the second quarter valued at approximately $6,245,000. Finally, Walleye Capital LLC grew its holdings in Ermenegildo Zegna by 1,938.7% during the first quarter. Walleye Capital LLC now owns 665,851 shares of the company’s stock valued at $6,938,000 after purchasing an additional 633,191 shares during the period. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.