ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Time to Sell?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down before the market opened on Thursday . The stock had previously closed at $27.01, but opened at $26.00. ZIM Integrated Shipping Services shares last traded at $24.05, with a volume of 1,087,145 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on ZIM. Bank of America boosted their price objective on shares of 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. Barclays upped their price target on shares of ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $25.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Reduce” and a consensus target price of $15.22.

ZIM Integrated Shipping Services Trading Down 1.8 %

The stock’s fifty day moving average price is $22.78 and its 200 day moving average price is $20.47. 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 stock has a market capitalization of $2.86 billion, a P/E ratio of 1.99, a PEG ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a $2.81 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 dividend on an annualized basis and a yield of 47.25%. ZIM Integrated Shipping Services’s dividend payout ratio is 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC lifted its stake in 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 worth $58,429,000 after acquiring an additional 2,181,000 shares during the period. Marshall Wace LLP lifted its stake in 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 worth $53,148,000 after acquiring an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC purchased a new stake in ZIM Integrated Shipping Services in the second quarter worth about $14,383,000. International Assets Investment Management LLC lifted its stake in ZIM Integrated Shipping Services by 2,228.7% in the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock worth $10,337,000 after acquiring an additional 385,562 shares during the period. Finally, Quantbot Technologies LP lifted its stake in ZIM Integrated Shipping Services by 9,573.0% in the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after acquiring an additional 366,647 shares during the period. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.