ZIM Integrated Shipping Services (NYSE:ZIM) Trading 6.1% Higher – Still a Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price traded up 6.1% during trading on Monday . The stock traded as high as $17.92 and last traded at $17.90. 1,781,492 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 5,793,949 shares. The stock had previously closed at $16.87.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped 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 research report on Tuesday, December 17th. Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Barclays reduced their price target on ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 10th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.04.

ZIM Integrated Shipping Services Stock Up 4.9 %

The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 1.48, a PEG ratio of 0.21 and a beta of 1.77. The firm has a 50-day moving average of $20.44 and a two-hundred day moving average of $20.46. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a dividend of $2.81 per share. The ex-dividend date was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a dividend yield of 63.48%. 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 is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in 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 purchasing an additional 674,723 shares during the period. International Assets Investment Management LLC boosted its position in ZIM Integrated Shipping Services by 2,228.7% in the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares in the last quarter. Quantbot Technologies LP grew its stake in ZIM Integrated Shipping Services by 9,573.0% during the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after buying an additional 366,647 shares during the last quarter. Millennium Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 306.7% during the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after buying an additional 321,100 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in ZIM Integrated Shipping Services by 1,226.7% during the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock worth $8,816,000 after acquiring an additional 317,684 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.