ZIM Integrated Shipping Services (NYSE:ZIM) Stock Bumped Up to Strong-Buy by Wall Street Zen

Wall Street Zen upgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) to a strong-buy rating in a report published on Saturday morning,Wall Street Zen reports.

ZIM has been the topic of a number of other reports. Weiss Ratings raised ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. JPMorgan Chase & Co. upped their price objective on shares of ZIM Integrated Shipping Services from $16.50 to $22.00 and gave the company an “underweight” rating in a research note on Monday, October 12th. Finally, Barclays set a $30.00 target price on shares of ZIM Integrated Shipping Services and gave the stock an “equal weight” rating in a report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.42.

ZIM Integrated Shipping Services Trading Up 0.9%

ZIM stock opened at $29.33 on Friday. The company has a market capitalization of $3.54 billion, a PE ratio of 25.51 and a beta of 1.22. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24. ZIM Integrated Shipping Services has a one year low of $13.56 and a one year high of $30.98. The company’s 50 day moving average price is $29.08 and its two-hundred day moving average price is $26.77.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings data on Thursday, August 20th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.16). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. As a group, analysts predict that ZIM Integrated Shipping Services will post 8.86 earnings per share for the current fiscal year.

Insider Buying and Selling at ZIM Integrated Shipping Services

In related news, EVP Saar Dotan sold 26,544 shares of ZIM Integrated Shipping Services stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $29.85, for a total transaction of $792,338.40. Following the sale, the executive vice president directly owned 67,200 shares in the company, valued at $2,005,920. The trade was a 28.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sami Jubran sold 3,020 shares of ZIM Integrated Shipping Services stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $29.91, for a total value of $90,328.20. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 320,122 shares of company stock worth $9,114,905. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Oddo BHF Asset Management Sas purchased a new stake in ZIM Integrated Shipping Services during the 1st quarter worth approximately $30,302,000. Hsbc Holdings PLC purchased a new position in shares of ZIM Integrated Shipping Services in the first quarter worth $16,409,000. Meitav Investment House Ltd. raised its holdings in shares of ZIM Integrated Shipping Services by 13.7% in the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company’s stock worth $102,934,000 after buying an additional 472,092 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in shares of ZIM Integrated Shipping Services by 1,462.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 368,056 shares of the company’s stock worth $9,698,000 after buying an additional 344,501 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth $7,283,000. 21.42% of the stock is currently owned by institutional investors.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. is an Israel-based container shipping company that provides international transportation and logistics services. The company transports a broad range of cargo, including general, refrigerated, hazardous and oversized goods, using container vessels and related intermodal transportation solutions.

ZIM operates shipping services across major global trade routes, connecting markets in Asia, Europe, the Mediterranean, North and South America, Africa and other regions.