ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up to $11.39

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up prior to trading on Friday . The stock had previously closed at $11.39, but opened at $11.90. ZIM Integrated Shipping Services shares last traded at $13.36, with a volume of 5,457,312 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on ZIM shares. Bank of America lowered their price target on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a research report on Tuesday, March 19th. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lowered their price target on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.51.

ZIM Integrated Shipping Services Trading Up 16.1 %

The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.95 and a current ratio of 1.02. The stock has a fifty day moving average of $10.87 and a 200 day moving average of $10.34. The company has a market capitalization of $1.59 billion, a P/E ratio of -0.58 and a beta of 1.84.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.10. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. ZIM Integrated Shipping Services had a negative return on equity of 16.29% and a negative net margin of 52.22%. As a group, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZIM. American Century Companies Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 12.4% in the third quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock valued at $9,389,000 after purchasing an additional 99,477 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 1,204.6% in the fourth quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock valued at $17,600,000 after purchasing an additional 160,397 shares during the period. Citigroup Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 77.1% in the third quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock valued at $56,000 after purchasing an additional 2,352 shares during the period. Global Retirement Partners LLC lifted its holdings in ZIM Integrated Shipping Services by 17.3% during the fourth quarter. Global Retirement Partners LLC now owns 45,493 shares of the company’s stock worth $449,000 after buying an additional 6,712 shares during the period. Finally, Blue Trust Inc. lifted its holdings in ZIM Integrated Shipping Services by 604.3% during the fourth quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after buying an additional 3,686 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., 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.