Xavier Destriau Sells 12,084 Shares of ZIM Integrated Shipping Services (NYSE:ZIM) Stock

Key Points

• Executive sale: ZIM EVP Xavier Destriau sold 12,084 shares at an average price of $28.80, for total proceeds of approximately $348,019.
• Quarterly results missed expectations: ZIM reported earnings of $0.53 per share versus the $0.80 consensus estimate, while revenue of $1.78 billion was slightly below forecasts.
• Mixed analyst outlook: ZIM has an average “Hold” rating and a consensus price target of $19.33, despite recent upgrades and target-price increases from some analysts. Hedge funds and institutional investors own 21.42% of the company.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) EVP Xavier Destriau sold 12,084 shares of ZIM Integrated Shipping Services stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $28.80, for a total value of $348,019.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $28.11 on Wednesday. The business's 50 day moving average price is $25.58 and its 200-day moving average price is $25.91. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $12.33 and a fifty-two week high of $29.97. The company has a market cap of $3.39 billion, a P/E ratio of 24.44 and a beta of 1.21. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.27). ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%.The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. Sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ZIM shares. Zacks Research upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an "underweight" rating in a research note on Tuesday, June 30th. Weiss Ratings restated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Finally, Barclays upped their target price on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an "underweight" rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.33.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently modified their holdings of ZIM. Value Base Ltd. bought a new position in ZIM Integrated Shipping Services in the fourth quarter worth approximately $1,316,000. Yelin Lapidot Holdings Management Ltd. boosted its position in ZIM Integrated Shipping Services by 1.2% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company's stock valued at $86,028,000 after acquiring an additional 40,000 shares in the last quarter. Sagil Capital LLP purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at $1,486,000. Weiss Asset Management LP purchased a new position in shares of ZIM Integrated Shipping Services in the 1st quarter valued at $7,283,000. Finally, Global Retirement Partners LLC bought a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter worth $1,023,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. NYSE: ZIM is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.

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