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

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

Several other analysts also recently commented on ZIM. JPMorgan Chase & Co. boosted their target price on shares of 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. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. Finally, Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and an average target price of $19.83.

ZIM Integrated Shipping Services Stock Down 1.5%

ZIM opened at $26.98 on Monday. The company has a market capitalization of $3.25 billion, a PE ratio of 23.46 and a beta of 1.21. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.24 and a quick ratio of 1.15. ZIM Integrated Shipping Services has a fifty-two week low of $12.33 and a fifty-two week high of $29.97. The business has a 50-day moving average of $25.85 and a 200-day moving average of $26.14.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.27). ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. Equities research analysts forecast that ZIM Integrated Shipping Services will post 3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Nissim Yochai sold 7,535 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $28.83, for a total value of $217,234.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eli Glickman sold 254,221 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 233,473 shares of the company’s stock, valued at $6,588,608.06. This represents a 52.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 303,840 shares of company stock worth $8,522,010 in the last ninety days. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Value Base Ltd. bought a new stake in ZIM Integrated Shipping Services in the 4th quarter valued at $1,316,000. Yelin Lapidot Holdings Management Ltd. lifted its stake in shares of ZIM Integrated Shipping Services by 1.2% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company’s stock valued at $86,028,000 after buying an additional 40,000 shares during the period. Sagil Capital LLP bought a new position in ZIM Integrated Shipping Services during the fourth quarter valued at about $1,486,000. Weiss Asset Management LP acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at approximately $7,283,000. Finally, Global Retirement Partners LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter worth approximately $1,023,000. Institutional investors and hedge funds 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.