ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday, Briefing.com reports.
Several other brokerages also recently weighed in on ZIM. Clarkson Capital reiterated a “neutral” rating on shares of ZIM Integrated Shipping Services in a research report on Tuesday, June 14th. Bank of America downgraded ZIM Integrated Shipping Services from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $79.00 to $40.00 in a research report on Friday, July 1st. Jefferies Financial Group initiated coverage on ZIM Integrated Shipping Services in a research report on Wednesday, July 20th. They issued a “hold” rating and a $55.00 price objective for the company. Barclays decreased their target price on ZIM Integrated Shipping Services from $76.00 to $63.00 and set an “equal weight” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. upgraded ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and upped their target price for the company from $43.60 to $53.30 in a report on Friday, June 17th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and a consensus price target of $52.83.
ZIM Integrated Shipping Services Trading Up 4.4 %
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ZIM stock traded up $2.18 during midday trading on Monday, hitting $51.30. The company had a trading volume of 196,451 shares, compared to its average volume of 4,654,806. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.59. ZIM Integrated Shipping Services has a 52 week low of $40.67 and a 52 week high of $91.23. The stock’s 50 day moving average price is $48.18 and its 200 day moving average price is $60.38. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 0.99 and a beta of 2.24.
Institutional Investors Weigh In On ZIM Integrated Shipping Services
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZIM. Advisor Group Holdings Inc. grew its stake in ZIM Integrated Shipping Services by 21.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 15,411 shares of the company’s stock worth $908,000 after purchasing an additional 2,758 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $649,000. Envestnet Asset Management Inc. grew its stake in ZIM Integrated Shipping Services by 35.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 40,199 shares of the company’s stock worth $2,366,000 after purchasing an additional 10,592 shares during the period. First Trust Advisors LP purchased a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $3,203,000. Finally, Swiss National Bank purchased a new stake in ZIM Integrated Shipping Services in the fourth quarter worth $5,244,000. 47.33% 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.
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