ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Raised to $16.50 at Barclays

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target lifted by Barclays from $13.90 to $16.50 in a research report released on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other equities analysts also recently commented on the company. Jefferies Financial Group restated a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, November 20th. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Bank of America raised their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $15.74.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM stock opened at $22.24 on Monday. The stock has a 50 day moving average of $22.85 and a two-hundred day moving average of $20.60. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $30.15. The company has a market capitalization of $2.68 billion, a P/E ratio of 1.86, a P/E/G ratio of 0.05 and a beta of 1.88.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a yield of 50.54%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently bought and sold shares of ZIM. Russell Investments Group Ltd. increased its stake in shares of ZIM Integrated Shipping Services by 1,431.1% in the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after buying an additional 5,667 shares during the period. California State Teachers Retirement System increased its stake in shares of ZIM Integrated Shipping Services by 2.4% in the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock valued at $1,060,000 after buying an additional 2,423 shares during the period. Tidal Investments LLC increased its stake in shares of ZIM Integrated Shipping Services by 18.4% in the 1st quarter. Tidal Investments LLC now owns 55,779 shares of the company’s stock valued at $564,000 after buying an additional 8,665 shares during the period. Virtu Financial LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter valued at $257,000. Finally, Cetera Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter valued at $130,000. 21.42% of the stock is owned by institutional investors and hedge funds.

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.