ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Should You Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped down before the market opened on Monday . The stock had previously closed at $25.57, but opened at $23.95. ZIM Integrated Shipping Services shares last traded at $23.6570, with a volume of 923,653 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ZIM shares. Barclays upped their target price on shares of 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. JPMorgan Chase & Co. boosted their price target on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Hold” and an average price target of $19.33.

ZIM Integrated Shipping Services Trading Down 5.9%

The stock has a market capitalization of $2.90 billion, a P/E ratio of 29.65 and a beta of 1.19. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average price of $25.53 and a 200 day moving average price of $24.86.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.48 billion. ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. On average, research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 11,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.11, for a total value of $287,210.00. Following the completion of the sale, the executive vice president owned 90,667 shares of the company’s stock, valued at approximately $2,367,315.37. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 61,000 shares of company stock valued at $1,537,310 in the last three months. Company insiders own 1.30% of the company’s stock.

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. Hoey Investments Inc. purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $25,000. Lodestone Wealth Management LLC acquired a new stake in ZIM Integrated Shipping Services during the 4th quarter worth about $29,000. Quarry LP purchased a new position in ZIM Integrated Shipping Services during the third quarter valued at approximately $34,000. Huntington National Bank increased its holdings in shares of ZIM Integrated Shipping Services by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the company’s stock valued at $42,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in ZIM Integrated Shipping Services in the third quarter valued at $44,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.