ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 3.2%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price shot up 3.2% during trading on Thursday . The stock traded as high as $10.78 and last traded at $10.75. 329,871 shares were traded during mid-day trading, a decline of 95% from the average session volume of 6,990,222 shares. The stock had previously closed at $10.42.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. 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 research report on Friday, March 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 13th. Finally, Bank of America dropped their price target on ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, ZIM Integrated Shipping Services presently has an average rating of “Hold” and an average price target of $10.51.

ZIM Integrated Shipping Services Stock Performance

The company has a quick ratio of 0.95, a current ratio of 1.02 and a debt-to-equity ratio of 1.35. The stock’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $10.30.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Wednesday, March 13th. The company reported ($1.23) earnings per share for the quarter, topping the consensus estimate of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative return on equity of 16.29% and a negative net margin of 52.22%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. On average, sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 0.33 EPS for the current year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in shares of ZIM Integrated Shipping Services by 12.4% during the 3rd quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock worth $9,389,000 after purchasing an additional 99,477 shares during the last quarter. Citigroup Inc. increased 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 worth $56,000 after buying an additional 2,352 shares during the last quarter. Global Retirement Partners LLC raised its holdings in ZIM Integrated Shipping Services by 17.3% during the fourth quarter. Global Retirement Partners LLC now owns 45,493 shares of the company’s stock valued at $449,000 after buying an additional 6,712 shares in the last quarter. Blue Trust Inc. lifted its position in shares of ZIM Integrated Shipping Services by 604.3% in the fourth quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after buying an additional 3,686 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of ZIM Integrated Shipping Services by 1,204.6% during the 4th quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock worth $17,600,000 after acquiring an additional 160,397 shares in the last quarter. 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.