ZIM Integrated Shipping Services (NYSE:ZIM) Stock Gets Price Target Increase from JPMorgan Chase & Co.

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target increased by investment analysts at JPMorgan Chase & Co. from $16.50 to $22.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 28.78% from the stock’s current price.

Several other analysts also recently commented on ZIM. Zacks Research downgraded ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Weiss Ratings upgraded ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Finally, Barclays set a $30.00 target price on ZIM Integrated Shipping Services and gave the company an “equal weight” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.42.

ZIM Integrated Shipping Services Trading Up 3.0%

NYSE:ZIM traded up $0.90 during trading hours on Monday, hitting $30.89. The stock had a trading volume of 506,122 shares, compared to its average volume of 2,146,024. ZIM Integrated Shipping Services has a one year low of $12.46 and a one year high of $30.96. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 26.84 and a beta of 1.22. The business’s 50 day moving average is $28.44 and its 200-day moving average is $26.54.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Thursday, August 20th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. Sell-side analysts anticipate that ZIM Integrated Shipping Services will post 3.15 EPS for the current fiscal year.

Insider Activity

In other news, CEO Eli Glickman sold 254,221 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $28.22, for a total value of $7,174,116.62. Following the sale, the chief executive officer owned 233,473 shares of the company’s stock, valued at $6,588,608.06. The trade was a 52.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Assaf Tiran sold 4,727 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $29.51, for a total transaction of $139,493.77. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 320,122 shares of company stock worth $9,114,905. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas bought a new stake in ZIM Integrated Shipping Services during the 1st quarter worth about $30,302,000. Hsbc Holdings PLC acquired a new stake in shares of ZIM Integrated Shipping Services in the first quarter valued at about $16,409,000. Meitav Investment House Ltd. increased its position in shares of ZIM Integrated Shipping Services by 13.7% in the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company’s stock valued at $102,934,000 after acquiring an additional 472,092 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of ZIM Integrated Shipping Services by 1,462.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 368,056 shares of the company’s stock valued at $9,698,000 after acquiring an additional 344,501 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in ZIM Integrated Shipping Services during the first quarter worth about $7,283,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container liner company headquartered in Haifa, Israel. Founded in 1945, ZIM provides maritime transportation services for importers, exporters, manufacturers and other businesses that move goods internationally.

The company operates a network of container shipping routes connecting major trade lanes and ports across Asia, Europe, the Mediterranean, North America, Latin America and other regions. Its services include the transportation of dry and refrigerated containers, specialized cargo, and vehicles, supported by cargo handling, documentation and related logistics services.

ZIM also offers digital tools and logistics solutions designed to help customers manage shipments, track cargo and coordinate international supply chains.