ZIM Integrated Shipping Services (NYSE:ZIM) Rating Lowered to Hold at Zacks Research

ZIM Integrated Shipping Services (NYSE:ZIM) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other brokerages have also recently weighed in on ZIM. Weiss Ratings reissued a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. JPMorgan Chase & Co. upped their target price 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. Finally, Barclays increased their target price on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $19.83.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM opened at $26.98 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $25.85 and a two-hundred day moving average price of $26.14. ZIM Integrated Shipping Services has a twelve month low of $12.33 and a twelve month high of $29.97. The company has a market capitalization of $3.25 billion, a P/E ratio of 23.46 and a beta of 1.21.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Thursday, August 20th. 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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.79 billion. As a group, research analysts expect that ZIM Integrated Shipping Services will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at ZIM Integrated Shipping Services

In other ZIM Integrated Shipping Services news, CEO Eli Glickman sold 254,221 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $28.22, for a total value of $7,174,116.62. Following the completion of the transaction, the chief executive officer directly owned 233,473 shares in the company, valued at approximately $6,588,608.06. The trade was a 52.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Saar Dotan sold 11,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.11, for a total value of $287,210.00. Following the transaction, the executive vice president directly owned 90,667 shares in the company, valued at approximately $2,367,315.37. This represents a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 303,840 shares of company stock worth $8,522,010 in the last three months. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in ZIM. Royal Bank of Canada lifted its position in ZIM Integrated Shipping Services by 8.2% during the first quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock worth $596,000 after buying an additional 3,102 shares during the period. NewEdge Advisors LLC purchased a new stake in ZIM Integrated Shipping Services in the 1st quarter valued at about $210,000. Goldman Sachs Group Inc. grew its holdings in ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after buying an additional 788,514 shares during the period. Geode Capital Management LLC increased its stake in shares of ZIM Integrated Shipping Services by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock valued at $1,915,000 after acquiring an additional 6,342 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of ZIM Integrated Shipping Services by 505.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock valued at $1,236,000 after acquiring an additional 64,057 shares during the last quarter. 21.42% of the stock is currently 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.