ZIM Integrated Shipping Services (NYSE:ZIM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) to a strong-buy rating in a research note released on Saturday,Wall Street Zen reports.

ZIM has been the subject of several other research reports. JPMorgan Chase & Co. increased their price target on shares of ZIM Integrated Shipping Services from $16.50 to $22.00 and gave the company an “underweight” rating in a research report on Monday, October 12th. Barclays set a $30.00 price objective on shares of ZIM Integrated Shipping Services and gave the stock an “equal weight” rating in a report on Monday, September 14th. Zacks Research raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings raised shares of ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.42.

ZIM Integrated Shipping Services Stock Up 0.6%

ZIM stock opened at $29.52 on Friday. The stock has a market cap of $3.56 billion, a P/E ratio of 25.67 and a beta of 1.22. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $29.10 and its two-hundred day simple moving average is $26.30. ZIM Integrated Shipping Services has a 1-year low of $13.94 and a 1-year high of $30.98.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Thursday, August 20th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.16). The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.79 billion. ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. Analysts expect that ZIM Integrated Shipping Services will post 8.86 EPS for the current year.

Insiders Place Their Bets

In other ZIM Integrated Shipping Services news, EVP Assaf Tiran sold 4,727 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $29.51, for a total transaction of $139,493.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eli Glickman sold 254,221 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $28.22, for a total value of $7,174,116.62. Following the sale, the chief executive officer owned 233,473 shares in the company, valued at approximately $6,588,608.06. This represents a 52.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 320,122 shares of company stock worth $9,114,905 in the last three months. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently made changes to their positions in ZIM. Pin Oak Investment Advisors Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the 2nd quarter valued at about $26,000. Pinnacle Holdings LLC bought a new position in shares of ZIM Integrated Shipping Services in the second quarter worth approximately $42,000. Assetmark Inc. bought a new position in shares of ZIM Integrated Shipping Services in the first quarter worth approximately $59,000. Janney Montgomery Scott LLC purchased a new stake in ZIM Integrated Shipping Services in the first quarter valued at approximately $201,000. Finally, Arista Wealth Management LLC purchased a new stake in ZIM Integrated Shipping Services in the second quarter valued at approximately $208,000. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. is an Israel-based container shipping company that provides international transportation and logistics services. The company transports a broad range of cargo, including general, refrigerated, hazardous and oversized goods, using container vessels and related intermodal transportation solutions.

ZIM operates shipping services across major global trade routes, connecting markets in Asia, Europe, the Mediterranean, North and South America, Africa and other regions.