ZIM Integrated Shipping Services (NYSE:ZIM) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks reports.

A number of other research firms have also recently weighed in on ZIM. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. JPMorgan Chase & Co. boosted their price objective on shares of 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. Finally, Barclays increased their target price on shares of ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have given 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 a consensus target price of $19.83.

ZIM Integrated Shipping Services Stock Down 1.5%

Shares of NYSE ZIM opened at $26.98 on Monday. ZIM Integrated Shipping Services has a 12-month low of $12.33 and a 12-month high of $29.97. The stock’s fifty day simple moving average is $25.85 and its two-hundred day simple moving average is $26.14. The stock has a market capitalization of $3.25 billion, a PE ratio of 23.46 and a beta of 1.21. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.27). ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%.The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. As a group, analysts expect that ZIM Integrated Shipping Services will post 3.15 EPS for the current fiscal year.

Insider Activity at ZIM Integrated Shipping Services

In other ZIM Integrated Shipping Services news, CEO Eli Glickman sold 254,221 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $28.22, for a total transaction of $7,174,116.62. Following the transaction, the chief executive officer owned 233,473 shares in the company, valued at approximately $6,588,608.06. This represents a 52.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Xavier Destriau sold 12,084 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $28.80, for a total transaction of $348,019.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 303,840 shares of company stock worth $8,522,010 in the last 90 days. 1.30% of the stock is owned by insiders.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in ZIM. Pin Oak Investment Advisors Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the second quarter worth about $26,000. Quarry LP acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $34,000. Huntington National Bank raised its position in ZIM Integrated Shipping Services by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the company’s stock worth $42,000 after buying an additional 2,000 shares during the last quarter. Pinnacle Holdings LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at $42,000. Finally, Larson Financial Group LLC increased its stake in shares of ZIM Integrated Shipping Services by 158.8% in the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock worth $44,000 after acquiring an additional 1,998 shares during the period. 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.