ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 7.5% – Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares rose 7.5% during mid-day trading on Thursday . The stock traded as high as $23.61 and last traded at $23.08. Approximately 2,425,268 shares were traded during trading, a decline of 61% from the average daily volume of 6,167,440 shares. The stock had previously closed at $21.47.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZIM. Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group decreased their price target on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.14.

ZIM Integrated Shipping Services Stock Down 3.5 %

The business’s 50 day moving average is $22.21 and its 200-day moving average is $20.75. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The company has a market cap of $2.71 billion, a PE ratio of 1.88, a P/E/G ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a dividend of $2.81 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a dividend yield of 49.98%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s payout ratio is presently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Large investors have recently bought and sold shares of the business. Fairman Group LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ZIM Integrated Shipping Services in the third quarter valued at $31,000. Northwestern Mutual Wealth Management Co. boosted its stake in ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after acquiring an additional 1,850 shares in the last quarter. American Capital Advisory LLC purchased a new position in shares of ZIM Integrated Shipping Services during the third quarter worth about $69,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the third quarter worth about $71,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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.