ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $25.57, but opened at $23.95. ZIM Integrated Shipping Services shares last traded at $23.6570, with a volume of 923,653 shares traded.

Wall Street Analyst Weigh In

ZIM has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price objective on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a research note on Tuesday, June 30th. Barclays raised their target price on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an “underweight” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and an average price target of $19.33.

ZIM Integrated Shipping Services Trading Down 5.9%

The stock has a fifty day moving average price of $25.53 and a 200 day moving average price of $24.86. The stock has a market cap of $2.90 billion, a PE ratio of 29.65 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.19.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings data on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%.The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Equities analysts expect that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current year.

Insider Buying and Selling

In related news, EVP Saar Dotan sold 20,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $24.63, for a total transaction of $492,600.00. Following the transaction, the executive vice president directly owned 131,667 shares in the company, valued at approximately $3,242,958.21. This represents a 13.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 61,000 shares of company stock worth $1,537,310. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Hoey Investments Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter worth approximately $25,000. Lodestone Wealth Management LLC bought a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth $29,000. Quarry LP bought a new stake in shares of ZIM Integrated Shipping Services during the third quarter worth $34,000. Huntington National Bank boosted its stake in shares of ZIM Integrated Shipping Services by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the company’s stock valued at $42,000 after purchasing an additional 2,000 shares during the period. Finally, Triumph Capital Management purchased a new stake in shares of ZIM Integrated Shipping Services during the third quarter valued at $44,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.