ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 4.6% on Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares dropped 4.6% during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $28.00 to $22.00. Jefferies Financial Group currently has a hold rating on the stock. ZIM Integrated Shipping Services traded as low as $18.16 and last traded at $18.62. Approximately 1,538,059 shares changed hands during trading, a decline of 75% from the average daily volume of 6,235,402 shares. The stock had previously closed at $19.51.

Several other research firms have also recently weighed in on ZIM. Barclays boosted their price objective on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a report on Monday, November 25th. Bank of America increased their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.14.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Fairman Group LLC purchased a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ZIM Integrated Shipping Services in the third quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after purchasing an additional 1,850 shares during the period. American Capital Advisory LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the third quarter worth $69,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at $71,000. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Performance

The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.22 billion, a PE ratio of 1.54, a PEG ratio of 0.04 and a beta of 1.78. The business’s 50 day moving average is $22.38 and its two-hundred day moving average is $20.66.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a $2.81 dividend. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a dividend yield of 61.07%. ZIM Integrated Shipping Services’s dividend payout ratio is 9.72%.

ZIM Integrated Shipping Services Company Profile

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.