ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 3.2%

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded up 3.2% on Thursday . The stock traded as high as $10.78 and last traded at $10.75. 329,871 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 6,990,222 shares. The stock had previously closed at $10.42.

Analyst Ratings Changes

A number of research analysts have commented on ZIM shares. Bank of America decreased their price objective on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research report on Tuesday, March 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.51.

ZIM Integrated Shipping Services Stock Down 5.6 %

The business has a 50 day moving average of $11.18 and a 200 day moving average of $10.30. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.95 and a current ratio of 1.02.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Wednesday, March 13th. The company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.10. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. ZIM Integrated Shipping Services had a negative return on equity of 16.29% and a negative net margin of 52.22%. As a group, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in ZIM Integrated Shipping Services during the 1st quarter worth $1,851,000. Bank of New York Mellon Corp bought a new stake in shares of ZIM Integrated Shipping Services in the first quarter worth about $13,790,000. American Century Companies Inc. bought a new position in shares of ZIM Integrated Shipping Services during the 1st quarter valued at about $527,000. Cetera Advisor Networks LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 1st quarter valued at approximately $244,000. Finally, PNC Financial Services Group Inc. grew its position in shares of ZIM Integrated Shipping Services by 1,625.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $502,000 after purchasing an additional 6,500 shares during the period. 21.42% of the stock is owned by 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.