ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $29.20, but opened at $30.03. ZIM Integrated Shipping Services shares last traded at $30.1850, with a volume of 387,140 shares traded.

Wall Street Analysts Forecast Growth

ZIM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a report on Tuesday, June 30th. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. Zacks Research downgraded shares of ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Finally, Barclays set a $30.00 price objective on shares of ZIM Integrated Shipping Services and gave the stock an “equal weight” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of “Hold” and a consensus price target of $21.50.

ZIM Integrated Shipping Services Trading Up 2.9%

The stock has a market cap of $3.62 billion, a PE ratio of 26.21 and a beta of 1.22. The firm has a 50-day moving average price of $28.12 and a 200-day moving average price of $26.46. 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 (NYSE:ZIM) last released its quarterly earnings data on Thursday, August 20th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.27). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. As a group, equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 EPS for the current fiscal year.

Insider Activity at ZIM Integrated Shipping Services

In related news, EVP Xavier Destriau sold 12,084 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $28.80, for a total value of $348,019.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Birger Meyer-Gloeckner sold 1,531 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $28.50, for a total value of $43,633.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 320,122 shares of company stock valued at $9,114,905 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of ZIM. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter valued at about $89,845,000. Meitav Investment House Ltd. lifted its position in ZIM Integrated Shipping Services by 13.7% during the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company’s stock valued at $102,934,000 after purchasing an additional 472,092 shares during the period. Yelin Lapidot Holdings Management Ltd. boosted its holdings in ZIM Integrated Shipping Services by 1.2% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company’s stock worth $86,028,000 after purchasing an additional 40,000 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in ZIM Integrated Shipping Services by 2.0% in the first quarter. Renaissance Technologies LLC now owns 2,936,288 shares of the company’s stock worth $77,371,000 after purchasing an additional 58,603 shares during the last quarter. Finally, State Street Corp grew its position in ZIM Integrated Shipping Services by 2.9% in the 2nd quarter. State Street Corp now owns 1,485,508 shares of the company’s stock worth $38,623,000 after purchasing an additional 41,735 shares during the period. 21.42% of the stock is currently owned by institutional investors.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container liner company headquartered in Haifa, Israel. Founded in 1945, ZIM provides maritime transportation services for importers, exporters, manufacturers and other businesses that move goods internationally.

The company operates a network of container shipping routes connecting major trade lanes and ports across Asia, Europe, the Mediterranean, North America, Latin America and other regions. Its services include the transportation of dry and refrigerated containers, specialized cargo, and vehicles, supported by cargo handling, documentation and related logistics services.

ZIM also offers digital tools and logistics solutions designed to help customers manage shipments, track cargo and coordinate international supply chains.