JPMorgan Chase & Co. Forecasts Strong Price Appreciation for ZIM Integrated Shipping Services (NYSE:ZIM) Stock

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective lifted by analysts at JPMorgan Chase & Co. from $16.50 to $22.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 27.69% from the company’s current price.

ZIM has been the topic of a number of other reports. Zacks Research lowered ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Barclays set a $30.00 target price on shares of ZIM Integrated Shipping Services and gave the company an “equal weight” rating in a research report on Monday, September 14th. Finally, Weiss Ratings upgraded shares of ZIM Integrated Shipping Services from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.42.

ZIM Integrated Shipping Services Stock Down 1.5%

Shares of ZIM opened at $30.43 on Monday. The company has a market capitalization of $3.67 billion, a PE ratio of 26.46 and a beta of 1.22. ZIM Integrated Shipping Services has a 12 month low of $12.52 and a 12 month high of $30.98. The stock’s 50-day moving average price is $28.59 and its two-hundred day moving average price is $26.60. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings results on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.79 billion.

Insiders Place Their Bets

In other ZIM Integrated Shipping Services news, Director Birger Meyer-Gloeckner sold 1,531 shares of ZIM Integrated Shipping Services stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $28.50, for a total value of $43,633.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sami Jubran sold 3,020 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $29.91, for a total value of $90,328.20. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 320,122 shares of company stock valued at $9,114,905 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently modified their holdings of the stock. Yelin Lapidot Holdings Management Ltd. grew its position in shares of 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 worth $86,028,000 after buying an additional 40,000 shares during the last quarter. State Street Corp raised its stake in shares of ZIM Integrated Shipping Services by 2.9% during the 2nd quarter. State Street Corp now owns 1,485,508 shares of the company’s stock worth $38,623,000 after acquiring an additional 41,735 shares in the last quarter. Weiss Asset Management LP purchased a new stake in ZIM Integrated Shipping Services during the first quarter valued at approximately $7,283,000. Global Retirement Partners LLC purchased a new stake in ZIM Integrated Shipping Services during the second quarter valued at 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 valued at $9,698,000 after acquiring an additional 344,501 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.