ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Should You Buy?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up before the market opened on Wednesday. The stock had previously closed at $29.20, but opened at $30.03. ZIM Integrated Shipping Services shares last traded at $30.1850, with a volume of 387,140 shares trading hands.

Analyst Ratings Changes

Several research firms recently commented on ZIM. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. Zacks Research downgraded ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Barclays set a $30.00 price target on ZIM Integrated Shipping Services and gave the stock an “equal weight” rating in a report on Monday, September 14th. Finally, JPMorgan Chase & Co. lifted their price target on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ZIM Integrated Shipping Services presently has an average rating of “Hold” and an average price target of $21.50.

ZIM Integrated Shipping Services Stock Up 0.9%

The stock’s fifty day moving average is $28.34 and its two-hundred day moving average is $26.51. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. The firm has a market cap of $3.65 billion, a P/E ratio of 26.30 and a beta of 1.22.

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 analysts’ consensus estimates of $0.80 by ($0.27). ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.79 billion. As a group, research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Insider Buying and Selling at ZIM Integrated Shipping Services

In related news, Director Birger Meyer-Gloeckner sold 1,531 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $28.50, for a total value of $43,633.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Assaf Tiran sold 4,727 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $29.51, for a total value of $139,493.77. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 320,122 shares of company stock valued at $9,114,905 over the last quarter. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently modified their holdings of ZIM. State Street Corp boosted its stake in ZIM Integrated Shipping Services by 2.9% in the second quarter. State Street Corp now owns 1,485,508 shares of the company’s stock worth $38,623,000 after buying an additional 41,735 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at $679,000. Cidel Asset Management Inc. grew its holdings in shares of ZIM Integrated Shipping Services by 7.1% during the 2nd quarter. Cidel Asset Management Inc. now owns 13,271 shares of the company’s stock valued at $345,000 after purchasing an additional 883 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of ZIM Integrated Shipping Services by 9.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,507 shares of the company’s stock valued at $455,000 after purchasing an additional 1,468 shares during the last quarter. Finally, Amundi raised its position in ZIM Integrated Shipping Services by 5.3% in the 2nd quarter. Amundi now owns 12,213 shares of the company’s stock worth $318,000 after purchasing an additional 612 shares during the period. 21.42% of the stock is owned by hedge funds and other institutional investors.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container liner company headquartered in Haifa, Israel. Founded in 1945, ZIM provides maritime transportation services for importers, exporters, manufacturers and other businesses that move goods internationally.

The company operates a network of container shipping routes connecting major trade lanes and ports across Asia, Europe, the Mediterranean, North America, Latin America and other regions. Its services include the transportation of dry and refrigerated containers, specialized cargo, and vehicles, supported by cargo handling, documentation and related logistics services.

ZIM also offers digital tools and logistics solutions designed to help customers manage shipments, track cargo and coordinate international supply chains.