ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Lowered to $9.70 at JPMorgan Chase & Co.

ZIM Integrated Shipping Services (NYSE:ZIM) had its target price decreased by research analysts at JPMorgan Chase & Co. from $10.00 to $9.70 in a research note issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 43.37% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research note on Wednesday, October 8th. Wall Street Zen lowered ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. UBS Group set a $9.70 price objective on ZIM Integrated Shipping Services in a research report on Monday. Barclays reduced their target price on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating for the company in a report on Thursday, August 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $15.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Thursday. Three research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Strong Sell” and an average target price of $13.42.

ZIM Integrated Shipping Services Price Performance

ZIM Integrated Shipping Services stock traded up $0.23 during mid-day trading on Monday, reaching $17.13. 1,167,250 shares of the company’s stock traded hands, compared to its average volume of 5,752,042. ZIM Integrated Shipping Services has a 12-month low of $11.03 and a 12-month high of $23.61. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 2.06 and a beta of 1.73. The stock has a 50 day moving average of $14.52 and a two-hundred day moving average of $15.53. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 1.12.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Thursday, November 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.65). The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. ZIM Integrated Shipping Services had a net margin of 13.22% and a return on equity of 25.18%. Equities analysts forecast that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of ZIM Integrated Shipping Services during the 1st quarter valued at approximately $8,112,000. Y Intercept Hong Kong Ltd raised its holdings in shares of ZIM Integrated Shipping Services by 262.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 328,041 shares of the company’s stock valued at $5,278,000 after acquiring an additional 237,506 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the second quarter valued at approximately $396,000. American Century Companies Inc. boosted its stake in shares of ZIM Integrated Shipping Services by 19.1% in the first quarter. American Century Companies Inc. now owns 2,280,289 shares of the company’s stock worth $33,269,000 after acquiring an additional 366,205 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of ZIM Integrated Shipping Services by 14.6% during the first quarter. Swiss National Bank now owns 234,600 shares of the company’s stock worth $3,423,000 after purchasing an additional 29,900 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.