ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 7.5% – Here’s What Happened

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

Analysts Set New Price Targets

ZIM has been the topic of a number of recent research reports. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Jefferies Financial Group cut their price target 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. Finally, Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has an average rating of “Hold” and a consensus price target of $15.14.

ZIM Integrated Shipping Services Trading Down 3.5 %

The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $2.71 billion, a PE ratio of 1.88, a P/E/G ratio of 0.04 and a beta of 1.78. The business has a 50 day moving average price of $22.21 and a 200-day moving average price of $20.75.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $2.81 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 49.98%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fairman Group LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the third quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in ZIM Integrated Shipping Services in the third quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after buying an additional 1,850 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $69,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $71,000. 21.42% of the stock is 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.