ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down to $8.22

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $8.22, but opened at $7.86. ZIM Integrated Shipping Services shares last traded at $7.90, with a volume of 716,401 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ZIM shares. Barclays reduced their target price on ZIM Integrated Shipping Services from $10.60 to $9.50 and set an “underweight” rating on the stock in a report on Friday, September 29th. JPMorgan Chase & Co. reduced their target price on ZIM Integrated Shipping Services from $15.40 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, September 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $13.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Hold” and a consensus target price of $12.17.

ZIM Integrated Shipping Services Price Performance

The firm has a market capitalization of $948.25 million, a P/E ratio of 0.73 and a beta of 2.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.08 and a current ratio of 1.15. The firm has a 50-day moving average of $10.16 and a 200-day moving average of $12.96.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Wednesday, August 16th. The company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.50). The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. ZIM Integrated Shipping Services had a net margin of 16.08% and a return on equity of 25.01%. As a group, analysts predict that ZIM Integrated Shipping Services Ltd. will post -5.31 EPS for the current year.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. abrdn plc purchased a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter worth $10,118,000. U S Global Investors Inc. increased its stake in ZIM Integrated Shipping Services by 17.6% in the 2nd quarter. U S Global Investors Inc. now owns 10,113 shares of the company’s stock worth $125,000 after buying an additional 1,514 shares in the last quarter. PFG Investments LLC purchased a new stake in ZIM Integrated Shipping Services in the 1st quarter worth $635,000. AMH Equity Ltd purchased a new stake in ZIM Integrated Shipping Services in the 2nd quarter worth $991,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in ZIM Integrated Shipping Services by 240.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 34,082 shares of the company’s stock worth $804,000 after buying an additional 24,066 shares in the last quarter. 17.62% of the stock is currently owned by hedge funds and other institutional investors.

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.