JPMorgan Chase & Co. Reaffirms “Underweight” Rating for ZIM Integrated Shipping Services (NYSE:ZIM)

ZIM Integrated Shipping Services (NYSE:ZIM)‘s stock had its “underweight” rating reiterated by equities researchers at JPMorgan Chase & Co. in a report issued on Tuesday, Marketbeat reports. They currently have a $10.50 price objective on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 43.00% from the company’s previous close.

A number of other research firms also recently weighed in on ZIM. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 target price on shares of ZIM Integrated Shipping Services in a report on Monday, August 19th. Barclays upped their price objective on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Bank of America upped their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. Four investment analysts have rated the stock with a sell rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $14.84.

ZIM Integrated Shipping Services Trading Up 12.3 %

Shares of ZIM Integrated Shipping Services stock opened at $18.42 on Tuesday. The company’s 50-day moving average price is $18.78 and its 200-day moving average price is $16.31. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -0.87, a PEG ratio of 0.03 and a beta of 1.83. ZIM Integrated Shipping Services has a 12-month low of $6.39 and a 12-month high of $23.82.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings data on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period last year, the firm posted ($1.37) EPS. On average, equities analysts expect that ZIM Integrated Shipping Services will post 11.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after buying an additional 2,181,000 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of ZIM Integrated Shipping Services by 638.6% in 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 period. Encompass Capital Advisors LLC purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $14,383,000. Millennium Management LLC lifted its stake in ZIM Integrated Shipping Services by 306.7% in the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after acquiring an additional 321,100 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of ZIM Integrated Shipping Services during the second quarter worth $5,849,000. Institutional investors and hedge funds 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.