ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up to $11.39

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped up before the market opened on Friday . The stock had previously closed at $11.39, but opened at $11.90. ZIM Integrated Shipping Services shares last traded at $13.36, with a volume of 5,457,312 shares.

Analysts Set New Price Targets

ZIM has been the topic of several research reports. Bank of America lowered their price objective on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a report on Tuesday, March 19th. JPMorgan Chase & Co. lowered their price objective on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.51.

ZIM Integrated Shipping Services Stock Performance

The company’s fifty day moving average price is $10.88 and its 200 day moving average price is $10.37. The company has a market cap of $1.59 billion, a PE ratio of -0.59 and a beta of 1.84. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.95.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Wednesday, March 13th. The company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.33) by $0.10. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. ZIM Integrated Shipping Services had a negative net margin of 52.22% and a negative return on equity of 16.29%. On average, equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post -0.25 earnings per share for the current year.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of ZIM Integrated Shipping Services by 92.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock valued at $33,000 after purchasing an additional 1,601 shares during the last quarter. Blue Trust Inc. grew its position in ZIM Integrated Shipping Services by 604.3% during the fourth quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock valued at $45,000 after buying an additional 3,686 shares during the period. Citigroup Inc. grew its position in ZIM Integrated Shipping Services by 77.1% during the third quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock valued at $56,000 after buying an additional 2,352 shares during the period. Scarborough Advisors LLC bought a new position in ZIM Integrated Shipping Services during the fourth quarter valued at about $58,000. Finally, Headlands Technologies LLC bought a new position in ZIM Integrated Shipping Services during the fourth quarter valued at about $121,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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.