ZIM Integrated Shipping Services (NYSE:ZIM) Given New $16.50 Price Target at JPMorgan Chase & Co.

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target increased by stock analysts at JPMorgan Chase & Co. from $9.00 to $16.50 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 36.27% from the stock’s current price.

A number of other brokerages have also recently commented on ZIM. Barclays lifted their price target on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.33.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM traded down $0.02 on Tuesday, reaching $25.89. 538,093 shares of the company’s stock were exchanged, compared to its average volume of 2,480,725. The stock has a fifty day simple moving average of $25.61 and a 200-day simple moving average of $24.69. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 31.97 and a beta of 1.21. ZIM Integrated Shipping Services has a 52 week low of $12.33 and a 52 week high of $29.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share 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 the consensus estimate of $1.48 billion. ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%. As a group, sell-side analysts predict that ZIM Integrated Shipping Services will post -7.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Saar Dotan sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.11, for a total transaction of $287,210.00. Following the completion of the sale, the executive vice president directly owned 90,667 shares of the company’s stock, valued at approximately $2,367,315.37. This trade represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 61,000 shares of company stock valued at $1,537,310. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd bought a new position in ZIM Integrated Shipping Services in the fourth quarter worth approximately $89,845,000. Y.D. More Investments Ltd grew its stake in ZIM Integrated Shipping Services by 378,174.5% in the fourth quarter. Y.D. More Investments Ltd now owns 3,782,745 shares of the company’s stock valued at $80,308,000 after purchasing an additional 3,781,745 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in ZIM Integrated Shipping Services by 29,305.7% in the second quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company’s stock worth $21,088,000 after purchasing an additional 1,306,157 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in ZIM Integrated Shipping Services in the first quarter worth about $30,302,000. Finally, Yelin Lapidot Holdings Management Ltd. lifted its position in shares of ZIM Integrated Shipping Services by 34.1% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company’s stock valued at $68,973,000 after buying an additional 825,848 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors.

ZIM Integrated Shipping Services Company Profile

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.