ZIM Integrated Shipping Services (NYSE:ZIM) Rating Lowered to Hold at Jefferies Financial Group

ZIM Integrated Shipping Services (NYSE:ZIM) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat.com reports. They currently have a $25.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 15.37% from the stock’s previous close.

A number of other research analysts have also commented on ZIM. Bank of America upped their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their target price for the company from $11.60 to $13.00 in a report on Thursday, June 6th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Finally, Barclays raised their target price on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $15.44.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM Integrated Shipping Services stock opened at $21.67 on Wednesday. The stock has a market capitalization of $2.61 billion, a P/E ratio of -1.02, a price-to-earnings-growth ratio of 0.05 and a beta of 1.86. ZIM Integrated Shipping Services has a one year low of $6.39 and a one year high of $26.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The business’s 50 day simple moving average is $19.77 and its two-hundred day simple moving average is $17.44.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company posted ($1.37) EPS. Analysts forecast that ZIM Integrated Shipping Services will post 10.87 EPS for the current year.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its position in ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after acquiring an additional 2,181,000 shares during the period. Marshall Wace LLP lifted its holdings in shares of ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after purchasing an additional 2,072,715 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 7.8% during the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after purchasing an additional 127,229 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter worth approximately $14,383,000. Finally, Millennium Management LLC grew its stake in shares of ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after buying an additional 321,100 shares during the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.