Ermenegildo Zegna (NYSE:ZGN) Reaches New 52-Week High - Time to Buy?

Key Points

• Shares hit a new 52‑week high — ZGN traded as high as $13.07 (last $12.9710) on heavy volume, while the consensus rating is a "Moderate Buy" with an average target of $12.26 and analysts split between Buy and Hold.
• Quarterly results missed expectations — Ermenegildo Zegna reported Q1 EPS of $0.15 vs. $0.26 expected and revenue of $577.8M vs. $1.17B expected, with analysts projecting ~ $0.46 EPS for the fiscal year.
• Dividend and ownership updates — The company disclosed an annual dividend of $0.12 payable July 29 (record July 6), and institutional investors now own about 12.91% of the stock after several funds increased their stakes.

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $13.07 and last traded at $12.9710, with a volume of 1170652 shares changing hands. The stock had previously closed at $12.12.

Analyst Ratings Changes

A number of brokerages have recently commented on ZGN. Weiss Ratings reissued a "hold (c)" rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. Morgan Stanley began coverage on shares of Ermenegildo Zegna in a research report on Thursday, February 12th. They issued an "equal weight" rating and a $11.00 price objective on the stock. TD Cowen boosted their price objective on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the stock a "hold" rating in a research report on Friday, May 1st. UBS Group reissued a "buy" rating and issued a $14.50 price objective on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Ermenegildo Zegna from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.26.

Ermenegildo Zegna Stock Performance

The company's fifty day simple moving average is $10.96 and its 200 day simple moving average is $10.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) last released its quarterly earnings data on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). The business had revenue of $577.83 million for the quarter, compared to analysts' expectations of $1.17 billion. On average, analysts predict that Ermenegildo Zegna N.V. will post 0.46 earnings per share for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, July 6th will be issued a $0.12 dividend. This represents a dividend yield of 99.0%. The ex-dividend date is Monday, July 6th.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors and hedge funds have recently modified their holdings of the business. Osborne Partners Capital Management LLC grew its stake in shares of Ermenegildo Zegna by 34.8% in the first quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company's stock valued at $9,820,000 after acquiring an additional 243,137 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its stake in shares of Ermenegildo Zegna by 82.3% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company's stock valued at $3,695,000 after acquiring an additional 160,078 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Ermenegildo Zegna by 6.5% in the fourth quarter. Vident Advisory LLC now owns 18,001 shares of the company's stock valued at $185,000 after acquiring an additional 1,097 shares in the last quarter. Occudo Quantitative Strategies LP grew its stake in shares of Ermenegildo Zegna by 72.9% in the fourth quarter. Occudo Quantitative Strategies LP now owns 88,433 shares of the company's stock valued at $906,000 after acquiring an additional 37,273 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Ermenegildo Zegna by 73.7% in the fourth quarter. Millennium Management LLC now owns 1,188,887 shares of the company's stock valued at $12,186,000 after acquiring an additional 504,546 shares in the last quarter. 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.

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