ZIM Integrated Shipping Services (NYSE:ZIM) Raised to “Strong-Buy” at Zacks Research

ZIM Integrated Shipping Services (NYSE:ZIM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

A number of other equities analysts have also recently issued reports on ZIM. JPMorgan Chase & Co. increased their price objective on shares of ZIM Integrated Shipping Services from $16.50 to $22.00 and gave the company an “underweight” rating in a research note on Monday. Barclays set a $30.00 price objective on shares of ZIM Integrated Shipping Services and gave the stock an “equal weight” rating in a report on Monday, September 14th. Finally, Weiss Ratings upgraded shares of ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ZIM Integrated Shipping Services presently has an average rating of “Hold” and a consensus target price of $22.42.

ZIM Integrated Shipping Services Stock Performance

ZIM opened at $29.84 on Tuesday. The stock’s 50 day simple moving average is $28.66 and its 200-day simple moving average is $26.63. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. The stock has a market cap of $3.60 billion, a PE ratio of 25.94 and a beta of 1.22. ZIM Integrated Shipping Services has a 1 year low of $13.19 and a 1 year high of $30.98.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.27). ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. Sell-side analysts forecast that ZIM Integrated Shipping Services will post 8.86 EPS for the current year.

Insider Buying and Selling

In related news, Director Birger Meyer-Gloeckner sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $28.50, for a total transaction of $43,633.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $29.51, for a total value of $139,493.77. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 320,122 shares of company stock worth $9,114,905. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Signal Advisors Wealth LLC increased its holdings in shares of ZIM Integrated Shipping Services by 40.0% during the third quarter. Signal Advisors Wealth LLC now owns 13,101 shares of the company’s stock worth $384,000 after buying an additional 3,743 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $1,239,000. Oak Grove Capital LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth approximately $704,000. Castleview Partners LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth approximately $246,000. Finally, State Street Corp boosted its holdings in shares of ZIM Integrated Shipping Services by 2.9% in the 2nd quarter. State Street Corp now owns 1,485,508 shares of the company’s stock worth $38,623,000 after acquiring an additional 41,735 shares in the last quarter. 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.