ZIM Integrated Shipping Services (NYSE:ZIM) Upgraded at Zacks Research

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

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

ZIM Integrated Shipping Services Price Performance

Shares of ZIM stock opened at $29.84 on Tuesday. The firm has a fifty day simple moving average of $28.66 and a 200-day simple moving average of $26.63. The company has a market capitalization of $3.60 billion, a PE ratio of 25.94 and a beta of 1.22. ZIM Integrated Shipping Services has a twelve month low of $13.19 and a twelve month high of $30.98. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, August 20th. The company reported $0.53 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.79 billion. Equities research analysts anticipate that ZIM Integrated Shipping Services will post 8.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 26,544 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $29.85, for a total value of $792,338.40. Following the sale, the executive vice president owned 67,200 shares in the company, valued at approximately $2,005,920. This trade represents a 28.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Xavier Destriau sold 12,084 shares of ZIM Integrated Shipping Services stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $28.80, for a total transaction of $348,019.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 320,122 shares of company stock valued at $9,114,905 in the last three months. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently modified their holdings of the stock. Meitav Investment House Ltd. lifted its holdings in shares of ZIM Integrated Shipping Services by 13.7% during the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company’s stock worth $102,934,000 after buying an additional 472,092 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. boosted its position in shares of ZIM Integrated Shipping Services by 1.2% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company’s stock valued at $86,028,000 after acquiring an additional 40,000 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of ZIM Integrated Shipping Services by 2.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,936,288 shares of the company’s stock valued at $77,371,000 after purchasing an additional 58,603 shares during the period. State Street Corp raised its stake in ZIM Integrated Shipping Services by 2.9% during the second 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. Finally, Oddo BHF Asset Management Sas acquired a new position in ZIM Integrated Shipping Services in the first quarter valued at about $30,302,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.