ZIM Integrated Shipping Services (NYSE:ZIM) Sets New 12-Month High – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $30.40 and last traded at $29.6610, with a volume of 1607372 shares trading hands. The stock had previously closed at $28.58.

Analyst Ratings Changes

A number of brokerages have issued reports on ZIM. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. Zacks Research downgraded ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. JPMorgan Chase & Co. raised their target price on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a research report on Tuesday, June 30th. Finally, Barclays boosted their target price on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.83.

ZIM Integrated Shipping Services Price Performance

The company’s 50 day moving average is $26.05 and its 200 day moving average is $26.28. 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 stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 25.92 and a beta of 1.18.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Thursday, August 20th. The company reported $0.53 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 firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.79 billion. Research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Insider Activity at ZIM Integrated Shipping Services

In other news, EVP Nissim Yochai sold 7,535 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $28.83, for a total transaction of $217,234.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eli Glickman sold 254,221 shares of ZIM Integrated Shipping Services stock in a transaction on Friday, August 21st. The shares were sold at an average price of $28.22, for a total transaction 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 $6,588,608.06. The trade was a 52.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 290,371 shares of company stock valued at $8,184,493 over the last 90 days. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd acquired a new position in ZIM Integrated Shipping Services in the fourth quarter valued at $89,845,000. California State Teachers Retirement System boosted its stake in shares of ZIM Integrated Shipping Services by 2,475.1% during the second quarter. California State Teachers Retirement System now owns 3,270,800 shares of the company’s stock worth $85,041,000 after buying an additional 3,143,783 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of ZIM Integrated Shipping Services by 29,305.7% during the second quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company’s stock worth $21,088,000 after buying an additional 1,306,157 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of ZIM Integrated Shipping Services during the first quarter worth about $30,302,000. Finally, Yelin Lapidot Holdings Management Ltd. increased its position in ZIM Integrated Shipping Services by 34.1% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company’s stock valued at $68,973,000 after acquiring an additional 825,848 shares during the period. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.