ZIM Integrated Shipping Services (NYSE:ZIM) Reaches New 12-Month High Following Analyst Upgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price hit a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $16.50 to $22.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. ZIM Integrated Shipping Services traded as high as $30.98 and last traded at $30.8820, with a volume of 1,429,077 shares trading hands. The stock had previously closed at $29.99.

Several other brokerages also recently weighed in on ZIM. Weiss Ratings upgraded shares of ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Zacks Research downgraded shares of ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Finally, Barclays set a $30.00 target price on shares of ZIM Integrated Shipping Services and gave the company an “equal weight” rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and an average target price of $22.42.

Insider Buying and Selling

In related news, EVP Xavier Destriau sold 12,084 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $28.80, for a total transaction of $348,019.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Birger Meyer-Gloeckner sold 1,531 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $28.50, for a total transaction of $43,633.50. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 320,122 shares of company stock worth $9,114,905. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Oak Grove Capital LLC purchased a new position in ZIM Integrated Shipping Services during the 3rd quarter valued at about $704,000. Castleview Partners LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the third quarter valued at about $246,000. State Street Corp lifted its holdings in shares of ZIM Integrated Shipping Services by 2.9% in the second quarter. State Street Corp now owns 1,485,508 shares of the company’s stock valued at $38,623,000 after purchasing an additional 41,735 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of ZIM Integrated Shipping Services in the second quarter valued at about $679,000. Finally, Cidel Asset Management Inc. grew its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Up 3.1%

The firm’s 50-day moving average price is $28.44 and its 200 day moving average price is $26.54. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 26.87 and a beta of 1.22. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.24 and a quick ratio of 1.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, August 20th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. Sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.

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.