ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up before the market opened on Thursday . The stock had previously closed at $16.52, but opened at $16.99. ZIM Integrated Shipping Services shares last traded at $17.10, with a volume of 1,053,536 shares.

Wall Street Analyst Weigh In

ZIM has been the subject of a number of analyst reports. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Barclays cut their price target on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Jefferies Financial Group cut their price target on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, December 17th. Finally, Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.04.

ZIM Integrated Shipping Services Stock Performance

The firm has a 50 day moving average of $20.79 and a 200-day moving average of $20.49. The stock has a market capitalization of $2.03 billion, a PE ratio of 1.41, a P/E/G ratio of 0.21 and a beta of 1.77. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.81 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a dividend yield of 66.67%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors have recently modified their holdings of ZIM. JPMorgan Chase & Co. grew its stake in shares of ZIM Integrated Shipping Services by 59.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after buying an additional 674,723 shares in the last quarter. International Assets Investment Management LLC increased its position in ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock worth $10,337,000 after buying an additional 385,562 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in ZIM Integrated Shipping Services during the third quarter worth $2,612,000. Blueshift Asset Management LLC acquired a new position in ZIM Integrated Shipping Services during the third quarter worth $620,000. Finally, Quantbot Technologies LP raised its position in shares of ZIM Integrated Shipping Services by 9,573.0% in the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock valued at $9,506,000 after purchasing an additional 366,647 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

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.