ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 7.3% – Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) rose 7.3% during trading on Thursday . The stock traded as high as $27.01 and last traded at $27.1120. Approximately 1,481,517 shares were traded during trading, a decline of 34% from the average daily volume of 2,232,123 shares. The stock had previously closed at $25.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ZIM shares. Barclays upped their price objective on 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 target price on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a report on Tuesday, June 30th. Zacks Research upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.33.

ZIM Integrated Shipping Services Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 33.40 and a beta of 1.21. The business’s 50 day simple moving average is $25.12 and its 200-day simple moving average is $25.56.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.50). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates 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 year.

Insiders Place Their Bets

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 11,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.11, for a total value of $287,210.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 61,000 shares of company stock worth $1,537,310 in the last three months. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of the business. Hoey Investments Inc. bought a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth about $25,000. Quarry LP bought a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $34,000. Huntington National Bank grew 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 during the last quarter. Pinnacle Holdings LLC acquired a new position in ZIM Integrated Shipping Services during the 2nd quarter worth approximately $42,000. Finally, Larson Financial Group LLC increased its position in ZIM Integrated Shipping Services by 158.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock worth $44,000 after purchasing an additional 1,998 shares in the last quarter. 21.42% of the stock is 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.