ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 7.3% – Time to Buy?

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays lifted their price target on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an “underweight” rating in a research report on Tuesday, June 30th. Zacks Research raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and an average price target of $19.33.

ZIM Integrated Shipping Services Trading Up 5.0%

The company has a fifty day moving average of $25.20 and a 200-day moving average of $25.61. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 34.76 and a beta of 1.21.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). The firm had revenue of $1.40 billion for 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%. As a group, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at ZIM Integrated Shipping Services

In other news, EVP Saar Dotan sold 11,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.11, for a total value of $287,210.00. Following the completion of the sale, the executive vice president directly owned 90,667 shares in the company, valued at $2,367,315.37. This represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 61,000 shares of company stock worth $1,537,310. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Hoey Investments Inc. purchased a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at approximately $25,000. Quarry LP purchased a new position in ZIM Integrated Shipping Services during the third quarter worth approximately $34,000. Huntington National Bank boosted its stake in ZIM Integrated Shipping Services by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the company’s stock worth $42,000 after buying an additional 2,000 shares during the last quarter. Pinnacle Holdings LLC acquired a new position in ZIM Integrated Shipping Services during the second quarter worth $42,000. Finally, Larson Financial Group LLC grew its holdings in ZIM Integrated Shipping Services by 158.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock valued at $44,000 after buying an additional 1,998 shares in the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.