ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Free Report) rose 4.5% during trading on Monday . The stock traded as high as $10.69 and last traded at $10.58. Approximately 1,891,137 shares traded hands during trading, a decline of 75% from the average daily volume of 7,459,310 shares. The stock had previously closed at $10.12.
Analysts Set New Price Targets
ZIM has been the subject of several recent research reports. Bank of America lowered their price objective on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a research note on Tuesday, March 19th. JPMorgan Chase & Co. decreased their target price on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Barclays decreased their price target on ZIM Integrated Shipping Services from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.51.
ZIM Integrated Shipping Services Stock Performance
The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.35. The firm has a fifty day moving average price of $11.82 and a 200 day moving average price of $10.33. The firm has a market cap of $1.28 billion, a PE ratio of -0.47 and a beta of 1.84.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC increased its holdings in shares of ZIM Integrated Shipping Services by 166.9% in the first quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock valued at $295,387,000 after purchasing an additional 2,540,500 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of ZIM Integrated Shipping Services by 25.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,011,500 shares of the company’s stock valued at $94,591,000 after purchasing an additional 804,958 shares during the last quarter. BlackRock Inc. raised its stake in shares of ZIM Integrated Shipping Services by 2.9% during the third quarter. BlackRock Inc. now owns 3,361,309 shares of the company’s stock worth $78,990,000 after buying an additional 95,106 shares during the last quarter. State Street Corp increased its holdings in ZIM Integrated Shipping Services by 8.7% in the third quarter. State Street Corp now owns 1,338,765 shares of the company’s stock valued at $31,461,000 after purchasing an additional 107,225 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in ZIM Integrated Shipping Services by 75.1% during the fourth quarter. Morgan Stanley now owns 1,118,732 shares of the company’s stock worth $19,231,000 after buying an additional 479,888 shares during 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.