ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Expected to Rise, Barclays Analyst Says

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective raised by stock analysts at Barclays from $13.90 to $16.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price objective indicates a potential downside of 26.01% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Bank of America raised their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday. Finally, Jefferies Financial Group reissued a “hold” rating and set a $25.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Five investment analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $15.74.

ZIM Integrated Shipping Services Stock Down 6.2 %

ZIM opened at $22.30 on Monday. ZIM Integrated Shipping Services has a 52 week low of $6.39 and a 52 week high of $30.15. The business has a 50 day moving average price of $22.78 and a two-hundred day moving average price of $20.56. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.68 billion, a PE ratio of 1.87, a P/E/G ratio of 0.05 and a beta of 1.88.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in ZIM Integrated Shipping Services by 2,228.7% in the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after purchasing an additional 385,562 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in ZIM Integrated Shipping Services in the second quarter valued at $2,343,000. SG Americas Securities LLC increased its position in shares of ZIM Integrated Shipping Services by 1,226.7% in the third quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock valued at $8,816,000 after buying an additional 317,684 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of ZIM Integrated Shipping Services by 337.7% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 51,450 shares of the company’s stock worth $1,320,000 after buying an additional 39,695 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after buying an additional 321,100 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.