ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Expected to Rise, Barclays Analyst Says

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective increased by Barclays from $13.90 to $16.50 in a report released on Monday,Benzinga reports. They currently have an underweight rating on the stock.

ZIM has been the subject of a number of other reports. Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Bank of America lifted their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Jefferies Financial Group reiterated a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Five analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $15.74.

ZIM Integrated Shipping Services Stock Down 6.5 %

Shares of ZIM Integrated Shipping Services stock opened at $22.24 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $30.15. The business has a fifty day simple moving average of $22.85 and a 200 day simple moving average of $20.60. The stock has a market cap of $2.68 billion, a PE ratio of 1.86, a price-to-earnings-growth ratio of 0.05 and a beta of 1.88.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a $2.81 dividend. This represents a $11.24 dividend on an annualized basis and a dividend yield of 50.54%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of 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 valued at $10,337,000 after purchasing an additional 385,562 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of ZIM Integrated Shipping Services in the second quarter valued at about $2,343,000. SG Americas Securities LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 1,226.7% in the third quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock valued at $8,816,000 after purchasing an additional 317,684 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 337.7% in the third quarter. Clear Harbor Asset Management LLC now owns 51,450 shares of the company’s stock valued at $1,320,000 after purchasing an additional 39,695 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 306.7% in the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after purchasing an additional 321,100 shares in the last quarter. 21.42% of the stock is currently owned by 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.