ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Cut to $9.50 by Analysts at JPMorgan Chase & Co.

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target trimmed by JPMorgan Chase & Co. from $10.00 to $9.50 in a research note released on Friday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other brokerages also recently issued reports on ZIM. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group cut their target price on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock 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 note on Thursday, November 21st. Finally, Barclays cut their target price on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Five analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.84.

ZIM Integrated Shipping Services Price Performance

NYSE ZIM opened at $20.72 on Friday. The stock has a market capitalization of $2.49 billion, a P/E ratio of 1.74, a P/E/G ratio of 0.27 and a beta of 1.70. ZIM Integrated Shipping Services has a 1 year low of $9.08 and a 1 year high of $30.15. The business’s fifty day moving average is $19.39 and its two-hundred day moving average is $20.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings 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 acquiring an additional 591 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of ZIM Integrated Shipping Services by 4.9% during the 4th quarter. Lazard Asset Management LLC now owns 15,443 shares of the company’s stock valued at $331,000 after acquiring an additional 722 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in ZIM Integrated Shipping Services by 26.5% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,300 shares of the company’s stock worth $92,000 after purchasing an additional 900 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in 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 purchasing an additional 915 shares in the last quarter. Finally, Olympiad Research LP boosted its holdings in ZIM Integrated Shipping Services by 12.9% in the third quarter. Olympiad Research LP now owns 10,588 shares of the company’s stock worth $272,000 after purchasing an additional 1,212 shares in the last quarter. 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.