ZIM Integrated Shipping Services (NYSE:ZIM) Sets New 52-Week High – Here’s What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares hit a new 52-week high on Tuesday . The stock traded as high as $29.97 and last traded at $29.1650, with a volume of 14820567 shares changing hands. The stock had previously closed at $22.20.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on ZIM Integrated Shipping Services from $9.70 to $8.70 and set an “underweight” rating for the company in a report on Monday, December 1st. UBS Group set a $9.70 price objective on shares of ZIM Integrated Shipping Services in a report on Monday, November 24th. Citigroup raised shares of ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating in a research report on Thursday. Wall Street Zen upgraded shares of ZIM Integrated Shipping Services from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Barclays increased their price target on shares of ZIM Integrated Shipping Services from $13.30 to $13.70 and gave the stock an “underweight” rating in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Reduce” and a consensus price target of $15.13.

ZIM Integrated Shipping Services Stock Performance

The company has a market capitalization of $3.46 billion, a PE ratio of 3.47 and a beta of 1.70. The business’s 50-day moving average is $21.72 and its 200-day moving average is $17.58. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.30.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings data on Thursday, November 20th. The company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65). ZIM Integrated Shipping Services had a return on equity of 25.18% and a net margin of 13.22%.The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. On average, research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 4.7% during the third quarter. Lazard Asset Management LLC now owns 14,308 shares of the company’s stock valued at $194,000 after acquiring an additional 638 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in ZIM Integrated Shipping Services by 2.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 24,219 shares of the company’s stock valued at $514,000 after purchasing an additional 689 shares during the last quarter. HUB Investment Partners LLC increased its stake in ZIM Integrated Shipping Services by 6.4% during the 2nd quarter. HUB Investment Partners LLC now owns 11,920 shares of the company’s stock valued at $192,000 after purchasing an additional 722 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in ZIM Integrated Shipping Services by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 13,786 shares of the company’s stock worth $222,000 after buying an additional 776 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of ZIM Integrated Shipping Services by 1.2% in the third quarter. Public Employees Retirement System of Ohio now owns 95,400 shares of the company’s stock worth $1,293,000 after buying an additional 1,100 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.