ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 3.9% After Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares were down 3.9% during mid-day trading on Friday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. JPMorgan Chase & Co. now has a $6.20 price target on the stock, down from their previous price target of $14.00. ZIM Integrated Shipping Services traded as low as $6.99 and last traded at $6.99. Approximately 466,101 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 3,612,401 shares. The stock had previously closed at $7.27.

A number of other analysts also recently weighed in on ZIM. Jefferies Financial Group decreased their price target on ZIM Integrated Shipping Services from $11.00 to $8.00 and set a “hold” rating for the company in a report on Thursday. Barclays reduced their price target on shares of ZIM Integrated Shipping Services from $10.60 to $9.50 and set an “underweight” rating for the company in a research report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.90.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in ZIM Integrated Shipping Services by 627.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,423 shares of the company’s stock worth $30,000 after purchasing an additional 2,090 shares during the period. National Bank of Canada FI raised its position in ZIM Integrated Shipping Services by 81.3% in the 2nd quarter. National Bank of Canada FI now owns 2,525 shares of the company’s stock worth $31,000 after purchasing an additional 1,132 shares during the period. Harbour Investments Inc. raised its position in ZIM Integrated Shipping Services by 100.6% in the 1st quarter. Harbour Investments Inc. now owns 1,396 shares of the company’s stock worth $33,000 after purchasing an additional 700 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth $38,000. Finally, IFP Advisors Inc increased its stake in shares of ZIM Integrated Shipping Services by 40.0% in the second quarter. IFP Advisors Inc now owns 3,500 shares of the company’s stock worth $40,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 17.62% of the company’s stock.

ZIM Integrated Shipping Services Trading Up 4.8 %

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.15 and a quick ratio of 1.08. The firm’s 50 day moving average is $9.28 and its 200 day moving average is $12.24. The company has a market capitalization of $915.77 million, a PE ratio of -0.43 and a beta of 2.20.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Wednesday, August 16th. The company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.50). ZIM Integrated Shipping Services had a negative return on equity of 0.89% and a negative net margin of 34.71%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.32 billion. As a group, equities analysts predict that ZIM Integrated Shipping Services Ltd. will post -5.31 EPS for the current year.

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.