ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $56.70

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down before the market opened on Monday . The stock had previously closed at $56.70, but opened at $55.00. ZIM Integrated Shipping Services shares last traded at $53.90, with a volume of 11,139 shares.

ZIM has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 22nd. They set an “underweight” rating and a $46.02 price target for the company. Jefferies Financial Group upped their price target on shares of ZIM Integrated Shipping Services from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, August 18th. Zacks Investment Research upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a report on Tuesday, August 24th. Barclays upped their price target on shares of ZIM Integrated Shipping Services from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 24th. Finally, initiated coverage on ZIM Integrated Shipping Services in a report on Wednesday, June 16th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $55.17.

The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.15 and a current ratio of 1.20. The stock has a fifty day simple moving average of $47.75 and a two-hundred day simple moving average of $40.55. The stock has a market capitalization of $6.34 billion and a price-to-earnings ratio of 11.43.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Tuesday, August 17th. The company reported $7.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.71 by $1.68. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $1.91 billion. Research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 30.78 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Sowell Financial Services LLC bought a new position in shares of ZIM Integrated Shipping Services during the 1st quarter worth about $37,000. BlackRock Inc. bought a new position in shares of ZIM Integrated Shipping Services during the 1st quarter worth about $38,000. Lazard Asset Management LLC bought a new position in ZIM Integrated Shipping Services in the 1st quarter valued at about $51,000. Liberty Wealth Management LLC bought a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at about $71,000. Finally, Alpha Paradigm Partners LLC bought a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at about $104,000. Hedge funds and other institutional investors own 38.56% of the company’s stock.

About ZIM Integrated Shipping Services (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. The company provides seaborne transportation and logistics services comprising dry, reefer, project, out of gauge, breakbulk, and dangerous cargo services; inland transport services; and ZIMonitor, a reefer cargo tracking service.

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