JPMorgan Chase & Co. Downgrades ZIM Integrated Shipping Services (NYSE:ZIM) to Neutral

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat.com reports. They presently have a $6.20 price objective on the stock, down from their prior price objective of $14.00. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 18.64% from the stock’s current price.

A number of other brokerages have also weighed in on ZIM. Jefferies Financial Group lowered their price objective on ZIM Integrated Shipping Services from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday. Barclays lowered their price objective 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. One investment analyst has rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.90.

Get Our Latest Stock Report on ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Stock Up 4.8 %

ZIM opened at $7.62 on Friday. The business’s 50-day simple moving average is $9.28 and its 200-day simple moving average is $12.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.08 and a current ratio of 1.15. ZIM Integrated Shipping Services has a one year low of $6.77 and a one year high of $26.24. The stock has a market capitalization of $915.77 million, a P/E ratio of -0.43 and a beta of 2.20.

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) last released its quarterly earnings results on Wednesday, August 16th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Analysts anticipate that ZIM Integrated Shipping Services will post -5.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZIM. Renaissance Technologies LLC increased its holdings in shares of ZIM Integrated Shipping Services by 166.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock worth $295,387,000 after buying an additional 2,540,500 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in ZIM Integrated Shipping Services by 25.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,011,500 shares of the company’s stock valued at $94,591,000 after purchasing an additional 804,958 shares in the last quarter. BlackRock Inc. increased its holdings in ZIM Integrated Shipping Services by 2.9% in the 3rd quarter. BlackRock Inc. now owns 3,361,309 shares of the company’s stock valued at $78,990,000 after purchasing an additional 95,106 shares in the last quarter. Menora Mivtachim Holdings LTD. increased its holdings in ZIM Integrated Shipping Services by 35.9% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 2,691,036 shares of the company’s stock valued at $33,342,000 after purchasing an additional 710,463 shares in the last quarter. Finally, State Street Corp increased its holdings in ZIM Integrated Shipping Services by 8.7% in the 3rd quarter. State Street Corp now owns 1,338,765 shares of the company’s stock valued at $31,461,000 after purchasing an additional 107,225 shares in the last quarter. 17.62% of the stock is currently owned by institutional investors and hedge funds.

About ZIM Integrated Shipping Services

(Get Free Report)

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.

Further Reading

Receive News & Ratings for ZIM Integrated Shipping Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ZIM Integrated Shipping Services and related companies with MarketBeat.com's FREE daily email newsletter.