ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up to $11.39

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $11.39, but opened at $11.90. ZIM Integrated Shipping Services shares last traded at $13.36, with a volume of 5,457,312 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on ZIM. 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. Bank of America cut their price target on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Two investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.51.

ZIM Integrated Shipping Services Trading Up 16.1 %

The stock has a market cap of $1.59 billion, a P/E ratio of -0.59 and a beta of 1.84. The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.35. The stock’s fifty day moving average price is $10.88 and its 200 day moving average price is $10.37.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Wednesday, March 13th. The company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative net margin of 52.22% and a negative return on equity of 16.29%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post -0.25 earnings per share for the current year.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. raised its position in shares of ZIM Integrated Shipping Services by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock worth $9,389,000 after purchasing an additional 99,477 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ZIM Integrated Shipping Services by 82.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock worth $5,054,000 after buying an additional 231,955 shares during the last quarter. International Assets Investment Management LLC raised its position in ZIM Integrated Shipping Services by 1,204.6% in the 4th quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock worth $17,600,000 after buying an additional 160,397 shares during the last quarter. Allianz Asset Management GmbH raised its position in ZIM Integrated Shipping Services by 1,446.0% in the 4th quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock worth $1,595,000 after buying an additional 151,102 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its position in ZIM Integrated Shipping Services by 100.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 138,475 shares of the company’s stock worth $1,367,000 after buying an additional 69,445 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

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.