Barclays Issues Positive Forecast for ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective lifted by Barclays from $13.70 to $15.80 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 41.56% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their target price on ZIM Integrated Shipping Services from $9.70 to $8.70 and set an “underweight” rating for the company in a research report on Monday, December 1st. Fearnley Fonds upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Wall Street Zen raised ZIM Integrated Shipping Services from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. UBS Group set a $9.70 price target on shares of ZIM Integrated Shipping Services in a research note on Monday, November 24th. Finally, Jefferies Financial Group increased their target price on shares of ZIM Integrated Shipping Services from $15.00 to $20.00 and gave the stock a “hold” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of “Reduce” and an average price target of $17.48.

ZIM Integrated Shipping Services Stock Performance

ZIM traded up $0.05 during trading on Monday, reaching $27.04. 1,693,510 shares of the company’s stock were exchanged, compared to its average volume of 4,111,956. ZIM Integrated Shipping Services has a fifty-two week low of $11.03 and a fifty-two week high of $29.97. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average price of $24.47 and a 200 day moving average price of $19.12. The company has a market capitalization of $3.26 billion, a P/E ratio of 6.78 and a beta of 1.56.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Monday, March 9th. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.43. ZIM Integrated Shipping Services had a return on equity of 9.33% and a net margin of 6.94%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.54 billion. As a group, analysts predict that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter worth $89,845,000. Y.D. More Investments Ltd raised its stake in shares of ZIM Integrated Shipping Services by 378,174.5% in the fourth quarter. Y.D. More Investments Ltd now owns 3,782,745 shares of the company’s stock worth $80,308,000 after purchasing an additional 3,781,745 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in ZIM Integrated Shipping Services by 134.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,368,287 shares of the company’s stock worth $70,286,000 after buying an additional 2,508,432 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of ZIM Integrated Shipping Services by 29,305.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company’s stock valued at $21,088,000 after acquiring an additional 1,306,157 shares during the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. raised its holdings in shares of ZIM Integrated Shipping Services by 96.7% during the third quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,422,986 shares of the company’s stock worth $32,831,000 after purchasing an additional 1,191,480 shares during the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.