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

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Xavier Destriau sold 12,084 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $28.80, for a total transaction of $348,019.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

ZIM Integrated Shipping Services Stock Down 1.0%

Shares of ZIM Integrated Shipping Services stock opened at $28.11 on Wednesday. The firm’s 50 day moving average price is $25.58 and its 200-day moving average price is $25.91. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.09. ZIM Integrated Shipping Services Ltd. has a 52-week low of $12.33 and a 52-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.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Wednesday, August 19th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.79 billion. ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. On average, sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in ZIM Integrated Shipping Services by 8.2% in the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock worth $596,000 after acquiring an additional 3,102 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in ZIM Integrated Shipping Services during the 1st quarter valued at about $210,000. Goldman Sachs Group Inc. grew its stake in ZIM Integrated Shipping Services by 20.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after purchasing an additional 788,514 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 5.6% in the second quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock valued at $1,915,000 after purchasing an additional 6,342 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of ZIM Integrated Shipping Services by 505.1% in the second quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock valued at $1,236,000 after purchasing an additional 64,057 shares during the period. 21.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZIM has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. JPMorgan Chase & Co. increased their price target on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a research note on Tuesday, June 30th. Zacks Research raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. Finally, Barclays boosted their price target on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.33.

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.