Zacks Research upgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM – Free Report) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks reports.
Several other analysts have also issued reports on ZIM. JPMorgan Chase & Co. upped their price target on shares of ZIM Integrated Shipping Services from $16.50 to $22.00 and gave the stock an “underweight” rating in a research report on Monday. Weiss Ratings upgraded shares of ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Barclays set a $30.00 price target on shares of ZIM Integrated Shipping Services and gave the company an “equal weight” rating in a research note on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.42.
Check Out Our Latest Research Report on ZIM Integrated Shipping Services
ZIM Integrated Shipping Services Trading Down 2.0%
ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.27). ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. Equities research analysts predict that ZIM Integrated Shipping Services will post 8.86 earnings per share for the current fiscal year.
Insider Activity
In other ZIM Integrated Shipping Services news, EVP Xavier Destriau sold 12,084 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $28.80, for a total transaction of $348,019.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nissim Yochai sold 7,535 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $28.83, for a total value of $217,234.05. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 320,122 shares of company stock valued at $9,114,905. 1.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Yelin Lapidot Holdings Management Ltd. grew its stake in ZIM Integrated Shipping Services by 1.2% in the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company’s stock valued at $86,028,000 after buying an additional 40,000 shares during the last quarter. State Street Corp raised its holdings in ZIM Integrated Shipping Services by 2.9% in the 2nd quarter. State Street Corp now owns 1,485,508 shares of the company’s stock valued at $38,623,000 after acquiring an additional 41,735 shares during the period. Weiss Asset Management LP bought a new position in ZIM Integrated Shipping Services in the 1st quarter valued at about $7,283,000. Global Retirement Partners LLC acquired a new stake in ZIM Integrated Shipping Services during the second quarter worth approximately $1,023,000. Finally, OMERS ADMINISTRATION Corp lifted its position in ZIM Integrated Shipping Services by 1,462.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 368,056 shares of the company’s stock worth $9,698,000 after acquiring an additional 344,501 shares during the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.
About ZIM Integrated Shipping Services
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container liner company headquartered in Haifa, Israel. Founded in 1945, ZIM provides maritime transportation services for importers, exporters, manufacturers and other businesses that move goods internationally.
The company operates a network of container shipping routes connecting major trade lanes and ports across Asia, Europe, the Mediterranean, North America, Latin America and other regions. Its services include the transportation of dry and refrigerated containers, specialized cargo, and vehicles, supported by cargo handling, documentation and related logistics services.
ZIM also offers digital tools and logistics solutions designed to help customers manage shipments, track cargo and coordinate international supply chains.
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