ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Raised to $13.90

ZIM Integrated Shipping Services (NYSE:ZIM) had its target price upped by analysts at Barclays from $12.30 to $13.90 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective indicates a potential downside of 42.89% from the stock’s previous close.

Several other research firms have also recently weighed in on ZIM. Bank of America increased their price objective on 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. reiterated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group downgraded shares of ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has an average rating of “Reduce” and a consensus target price of $15.22.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE:ZIM opened at $24.34 on Wednesday. The company’s fifty day moving average is $20.20 and its 200 day moving average is $18.43. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. ZIM Integrated Shipping Services has a 52 week low of $6.39 and a 52 week high of $26.20. The stock has a market cap of $2.93 billion, a PE ratio of -1.15, a PEG ratio of 0.04 and a beta of 1.86.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted ($1.37) EPS. Research analysts anticipate that ZIM Integrated Shipping Services will post 11.22 earnings per share for the current year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently modified their holdings of ZIM. Renaissance Technologies LLC raised its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after buying an additional 2,181,000 shares during the period. Marshall Wace LLP grew its position in shares of ZIM Integrated Shipping Services by 638.6% in the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after buying an additional 2,072,715 shares during the last quarter. American Century Companies Inc. boosted its stake in ZIM Integrated Shipping Services by 7.8% in the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after acquiring an additional 127,229 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in ZIM Integrated Shipping Services in the second quarter valued at about $14,383,000. Finally, Millennium Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 306.7% in the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after purchasing an additional 321,100 shares during the period. 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.