ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 7.3% – Still a Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was up 7.3% on Thursday . The stock traded as high as $27.01 and last traded at $27.1120. Approximately 1,481,517 shares changed hands during trading, a decline of 34% from the average session volume of 2,232,123 shares. The stock had previously closed at $25.27.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Friday, June 5th. Zacks Research raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Barclays boosted their price target on ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an “underweight” rating in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. upped their price objective on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and an average target price of $19.33.

ZIM Integrated Shipping Services Stock Up 7.1%

The stock has a 50-day moving average price of $25.12 and a 200-day moving average price of $25.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. The company has a market capitalization of $3.26 billion, a P/E ratio of 33.40 and a beta of 1.21.

ZIM Integrated Shipping Services (NYSE:ZIM) last released 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). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, research analysts predict that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Saar Dotan sold 11,000 shares of ZIM Integrated Shipping Services stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.11, for a total value of $287,210.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 61,000 shares of company stock worth $1,537,310 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pictet Asset Management Holding SA raised its holdings in ZIM Integrated Shipping Services by 2.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 22,528 shares of the company’s stock valued at $594,000 after acquiring an additional 497 shares during the period. Lazard Asset Management LLC grew its position in shares of ZIM Integrated Shipping Services by 4.7% in the third quarter. Lazard Asset Management LLC now owns 14,308 shares of the company’s stock valued at $194,000 after purchasing an additional 638 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in shares of ZIM Integrated Shipping Services by 2.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 24,219 shares of the company’s stock valued at $514,000 after purchasing an additional 689 shares in the last quarter. HUB Investment Partners LLC raised its stake in shares of ZIM Integrated Shipping Services by 6.4% during the 2nd quarter. HUB Investment Partners LLC now owns 11,920 shares of the company’s stock valued at $192,000 after purchasing an additional 722 shares during the period. Finally, Deutsche Bank AG boosted its stake in ZIM Integrated Shipping Services by 12.5% in the 2nd quarter. Deutsche Bank AG now owns 8,834 shares of the company’s stock worth $230,000 after purchasing an additional 979 shares during the period. 21.42% of the stock is 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.