ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Raised to $22.00

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target upped by JPMorgan Chase & Co. from $16.50 to $22.00 in a research note released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other analysts also recently commented on ZIM. Zacks Research downgraded shares of ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings upgraded shares of ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Barclays set a $30.00 price target on shares of ZIM Integrated Shipping Services and gave the company an “equal weight” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and a consensus target price of $22.42.

ZIM Integrated Shipping Services Trading Down 2.0%

Shares of NYSE ZIM opened at $29.84 on Monday. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 25.94 and a beta of 1.22. The business has a 50 day simple moving average of $28.66 and a 200 day simple moving average of $26.63. ZIM Integrated Shipping Services has a 52 week low of $13.19 and a 52 week high of $30.98. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. On average, research analysts predict that ZIM Integrated Shipping Services will post 8.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Sami Jubran sold 3,020 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $29.91, for a total transaction of $90,328.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Saar Dotan sold 26,544 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $29.85, for a total transaction of $792,338.40. Following the sale, the executive vice president directly owned 67,200 shares of the company’s stock, valued at approximately $2,005,920. This represents a 28.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 320,122 shares of company stock valued at $9,114,905 in the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZIM. Yelin Lapidot Holdings Management Ltd. boosted its position 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 acquiring an additional 40,000 shares during the period. State Street Corp grew its stake in shares of ZIM Integrated Shipping Services by 2.9% in the second quarter. State Street Corp now owns 1,485,508 shares of the company’s stock worth $38,623,000 after acquiring an additional 41,735 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of ZIM Integrated Shipping Services in the first quarter worth $7,283,000. Global Retirement Partners LLC bought a new position in ZIM Integrated Shipping Services during the second quarter worth $1,023,000. Finally, OMERS ADMINISTRATION Corp increased its position in ZIM Integrated Shipping Services by 1,462.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 368,056 shares of the company’s stock worth $9,698,000 after acquiring an additional 344,501 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container liner company headquartered in Haifa, Israel. Founded in 1945, ZIM provides maritime transportation services for importers, exporters, manufacturers and other businesses that move goods internationally.

The company operates a network of container shipping routes connecting major trade lanes and ports across Asia, Europe, the Mediterranean, North America, Latin America and other regions. Its services include the transportation of dry and refrigerated containers, specialized cargo, and vehicles, supported by cargo handling, documentation and related logistics services.

ZIM also offers digital tools and logistics solutions designed to help customers manage shipments, track cargo and coordinate international supply chains.