ZIM Integrated Shipping Services (NYSE:ZIM) Given New $9.70 Price Target at JPMorgan Chase & Co.

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target reduced by research analysts at JPMorgan Chase & Co. from $10.00 to $9.70 in a report released on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 43.37% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Citigroup reissued a “sell” rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Barclays reduced their price target on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating for the company in a research report on Thursday, August 28th. Wall Street Zen lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $15.00 target price on shares of ZIM Integrated Shipping Services in a research note on Thursday. Three equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, ZIM Integrated Shipping Services has a consensus rating of “Strong Sell” and a consensus target price of $13.42.

ZIM Integrated Shipping Services Trading Up 1.3%

ZIM traded up $0.23 on Monday, hitting $17.13. The company had a trading volume of 1,167,250 shares, compared to its average volume of 5,752,042. The company’s fifty day moving average price is $14.52 and its 200 day moving average price is $15.53. ZIM Integrated Shipping Services has a 1 year low of $11.03 and a 1 year high of $23.61. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.06 billion, a P/E ratio of 2.06 and a beta of 1.73.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, November 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65). ZIM Integrated Shipping Services had a net margin of 13.22% and a return on equity of 25.18%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. As a group, equities analysts expect that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

Institutional Trading of ZIM Integrated Shipping Services

Several hedge funds have recently modified their holdings of ZIM. Arrowstreet Capital Limited Partnership lifted its holdings in ZIM Integrated Shipping Services by 134.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,368,287 shares of the company’s stock valued at $70,286,000 after acquiring an additional 2,508,432 shares during the period. BNP Paribas Financial Markets increased 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 valued at $21,088,000 after buying an additional 1,306,157 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. lifted its position in shares of ZIM Integrated Shipping Services by 96.7% during the 3rd quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,422,986 shares of the company’s stock valued at $32,831,000 after acquiring an additional 1,191,480 shares during the period. Jump Financial LLC grew its holdings in shares of ZIM Integrated Shipping Services by 204.0% in the 2nd quarter. Jump Financial LLC now owns 1,536,092 shares of the company’s stock worth $24,716,000 after acquiring an additional 1,030,817 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $15,850,000. 21.42% of the stock is owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.