Raymond James Financial Services Advisors Inc. Cuts Stock Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Raymond James Financial Services Advisors Inc. lowered its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 6.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,826 shares of the company’s stock after selling 4,064 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in ZIM Integrated Shipping Services were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter worth approximately $518,000. Citigroup Inc. boosted its stake in ZIM Integrated Shipping Services by 77.1% during the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock valued at $56,000 after purchasing an additional 2,352 shares during the last quarter. American Century Companies Inc. boosted its stake in ZIM Integrated Shipping Services by 12.4% during the 3rd quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock valued at $9,389,000 after purchasing an additional 99,477 shares during the last quarter. Toroso Investments LLC boosted its stake in ZIM Integrated Shipping Services by 7.0% during the 3rd quarter. Toroso Investments LLC now owns 23,902 shares of the company’s stock valued at $250,000 after purchasing an additional 1,558 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at $152,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Analyst Ratings Changes

ZIM has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 13th. Bank of America cut their target price on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. dropped their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and a consensus price target of $10.51.

ZIM Integrated Shipping Services Stock Performance

ZIM stock opened at $10.22 on Thursday. The company has a market cap of $1.23 billion, a P/E ratio of -0.46 and a beta of 1.84. ZIM Integrated Shipping Services Ltd. has a 1 year low of $6.39 and a 1 year high of $21.88. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.95. The stock’s fifty day moving average price is $11.01 and its 200-day moving average price is $10.29.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.33) by $0.10. The business 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%. On average, equities analysts forecast that ZIM Integrated Shipping Services Ltd. will post 0.33 earnings per share for the current year.

ZIM Integrated Shipping Services Company Profile

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.