ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $9.00 to $16.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 36.27% from the stock’s previous close.

ZIM has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Barclays boosted their price target on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.33.

ZIM Integrated Shipping Services Stock Down 0.1%

NYSE ZIM traded down $0.02 during trading on Tuesday, hitting $25.89. The stock had a trading volume of 538,093 shares, compared to its average volume of 2,480,725. The company has a market capitalization of $3.12 billion, a PE ratio of 31.97 and a beta of 1.21. The company’s 50-day moving average price is $25.61 and its two-hundred day moving average price is $24.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.19. ZIM Integrated Shipping Services has a 12 month low of $12.33 and a 12 month high of $29.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%.The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, sell-side analysts forecast that ZIM Integrated Shipping Services will post -7.24 EPS for the current year.

Insider Activity at ZIM Integrated Shipping Services

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 20,000 shares of ZIM Integrated Shipping Services stock in a transaction on Monday, June 1st. The stock was sold at an average price of $24.63, for a total value of $492,600.00. Following the completion of the transaction, the executive vice president directly owned 131,667 shares of the company’s stock, valued at $3,242,958.21. The trade was a 13.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 61,000 shares of company stock worth $1,537,310 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC bought a new position in ZIM Integrated Shipping Services in the first quarter valued at about $286,000. Oddo BHF Asset Management Sas acquired a new position in shares of ZIM Integrated Shipping Services in the first quarter valued at approximately $30,302,000. Amundi acquired a new position in shares of ZIM Integrated Shipping Services in the first quarter valued at approximately $306,000. Polar Asset Management Partners Inc. bought a new position in ZIM Integrated Shipping Services in the 1st quarter valued at approximately $790,000. Finally, Rangeley Capital LLC raised its holdings in ZIM Integrated Shipping Services by 34.0% in the 1st quarter. Rangeley Capital LLC now owns 55,000 shares of the company’s stock valued at $1,449,000 after buying an additional 13,948 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.