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 research report issued to clients and investors on Tuesday, Zacks reports.

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

ZIM Integrated Shipping Services Stock Performance

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

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. On average, equities research analysts predict that ZIM Integrated Shipping Services will post 8.86 EPS for the current fiscal year.

Insider Buying and Selling at ZIM Integrated Shipping Services

In other news, Director Birger Meyer-Gloeckner sold 1,531 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $28.50, for a total transaction of $43,633.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Assaf Tiran sold 4,727 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $29.51, for a total transaction of $139,493.77. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 320,122 shares of company stock worth $9,114,905 in the last three months. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds have recently modified their holdings of the stock. Sigma Planning Corp raised its holdings in ZIM Integrated Shipping Services by 3.8% during the second quarter. Sigma Planning Corp now owns 11,475 shares of the company’s stock worth $298,000 after acquiring an additional 425 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in ZIM Integrated Shipping Services by 2.3% during the first quarter. Pictet Asset Management Holding SA now owns 22,528 shares of the company’s stock valued at $594,000 after purchasing an additional 497 shares during the last quarter. Amundi grew its stake in ZIM Integrated Shipping Services by 5.3% in the second quarter. Amundi now owns 12,213 shares of the company’s stock valued at $318,000 after purchasing an additional 612 shares in the last quarter. Cidel Asset Management Inc. grew its stake in ZIM Integrated Shipping Services by 7.1% in the second quarter. Cidel Asset Management Inc. now owns 13,271 shares of the company’s stock valued at $345,000 after purchasing an additional 883 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of ZIM Integrated Shipping Services by 1.9% in the 2nd quarter. Van ECK Associates Corp now owns 50,729 shares of the company’s stock valued at $1,319,000 after buying an additional 927 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

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.