ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $25.57, but opened at $23.95. ZIM Integrated Shipping Services shares last traded at $23.6570, with a volume of 923,653 shares changing hands.
Analyst Upgrades and Downgrades
ZIM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a research report on Tuesday, June 30th. Barclays upped their price objective on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an “underweight” rating in a research report on Tuesday, June 30th. Zacks Research upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services has an average rating of “Hold” and a consensus target price of $19.33.
View Our Latest Research Report on ZIM
ZIM Integrated Shipping Services Price Performance
ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last released its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities research analysts forecast that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.
Insider Buying and Selling
In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 11,000 shares of ZIM Integrated Shipping Services stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.11, for a total transaction of $287,210.00. Following the completion of the sale, the executive vice president owned 90,667 shares of the company’s stock, valued at approximately $2,367,315.37. The trade was a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 61,000 shares of company stock worth $1,537,310. 1.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On ZIM Integrated Shipping Services
Institutional investors have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of ZIM Integrated Shipping Services in the 4th quarter valued at approximately $89,845,000. Y.D. More Investments Ltd grew its holdings in ZIM Integrated Shipping Services by 378,174.5% during the fourth quarter. Y.D. More Investments Ltd now owns 3,782,745 shares of the company’s stock valued at $80,308,000 after purchasing an additional 3,781,745 shares during the period. BNP Paribas Financial Markets increased its stake in ZIM Integrated Shipping Services by 29,305.7% in the second quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company’s stock valued at $21,088,000 after purchasing an additional 1,306,157 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in ZIM Integrated Shipping Services in the first quarter valued at approximately $30,302,000. Finally, Yelin Lapidot Holdings Management Ltd. raised its holdings in ZIM Integrated Shipping Services by 34.1% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company’s stock worth $68,973,000 after purchasing an additional 825,848 shares during the period. 21.42% of the stock is owned by institutional investors and hedge funds.
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.
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