ZIM Integrated Shipping Services (NYSE:ZIM) Upgraded by Clarkson Capital to “Strong-Buy” Rating

Clarkson Capital upgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a hold rating to a strong-buy rating in a research report released on Friday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Barclays lifted their price objective on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a report on Monday. Bank of America upped their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, November 20th. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.74.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM opened at $22.24 on Friday. The firm has a market capitalization of $2.68 billion, a PE ratio of 1.86, a price-to-earnings-growth ratio of 0.05 and a beta of 1.88. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services has a 12-month low of $6.39 and a 12-month high of $30.15. The firm has a 50-day moving average price of $22.85 and a 200 day moving average price of $20.60.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $2.81 per share. The ex-dividend date is Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 50.54%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently modified their holdings of ZIM. Fairman Group LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $31,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after buying an additional 1,850 shares during the period. Russell Investments Group Ltd. raised its position in shares of ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after acquiring an additional 5,667 shares during the last quarter. Finally, American Capital Advisory LLC acquired a new position in shares of ZIM Integrated Shipping Services during the third quarter valued at $69,000. 21.42% of the stock is owned by institutional investors.

About ZIM Integrated Shipping Services

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.