ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 7.5% – Still a Buy?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded up 7.5% on Thursday . The company traded as high as $23.61 and last traded at $23.08. 2,425,268 shares traded hands during trading, a decline of 61% from the average session volume of 6,167,440 shares. The stock had previously closed at $21.47.

Analyst Ratings Changes

A number of brokerages have commented on ZIM. Jefferies Financial Group reduced their price objective on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, December 17th. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Barclays upped their target price on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a report on Monday, November 25th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.14.

ZIM Integrated Shipping Services Price Performance

The company has a market capitalization of $2.78 billion, a P/E ratio of 1.93, a price-to-earnings-growth ratio of 0.04 and a beta of 1.78. The business’s 50-day moving average is $22.20 and its two-hundred day moving average is $20.70. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a dividend yield of 48.70%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 9.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in shares of ZIM Integrated Shipping Services by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 38,079 shares of the company’s stock valued at $977,000 after buying an additional 591 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 2.1% in the third quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock worth $1,137,000 after acquiring an additional 915 shares during the period. Fairman Group LLC purchased a new position in shares of ZIM Integrated Shipping Services in the third quarter valued at $26,000. Olympiad Research LP raised its stake in shares of ZIM Integrated Shipping Services by 12.9% during the 3rd quarter. Olympiad Research LP now owns 10,588 shares of the company’s stock valued at $272,000 after purchasing an additional 1,212 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter worth about $31,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

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.