Analysts Set ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Target Price at $19.83

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have earned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.8333.

A number of research firms have recently commented on ZIM. Barclays raised their target price on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, August 27th. Weiss Ratings reissued a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. boosted their target price on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an “underweight” rating in a report on Tuesday, June 30th. Finally, Zacks Research downgraded shares of ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st.

Key Stories Impacting ZIM Integrated Shipping Services

Here are the key news stories impacting ZIM Integrated Shipping Services this week:

• Positive Sentiment: Hapag-Lloyd working to preserve the deal: Hapag-Lloyd and investment firm FIMI are reportedly developing stronger safeguards for ZIM’s Israeli operations after discussions with Israeli officials. The measures could help address approval concerns and improve the likelihood of completing the proposed $35-per-share acquisition. Can New Safeguards Preserve ZIM’s $4.2B Sale?
• Positive Sentiment: Cash takeover supports the stock: The proposed transaction values ZIM’s equity at approximately $4.2 billion and offers shareholders a premium to the pre-deal valuation. The spread between the market price and the offer price reflects both potential upside and the risk that the transaction could be delayed, revised or rejected. ZIM Safeguards and $4.2B Sale
• Neutral Sentiment: Analyst ratings are less relevant after the takeover announcement: ZIM has a consensus “Hold” rating, with one Strong Buy, five Holds and two Sells and an average target price of $19.83. Those targets appear to largely reflect the company as a standalone business and may not incorporate the proposed acquisition. ZIM Receives Consensus Hold Rating
• Negative Sentiment: Insiders reported several sales: Executives Sami Jubran, Saar Dotan, Assaf Tiran and Arik Elimelech, along with director Birger Johanne Meyer-Gloeckner, sold shares recently. The transactions were relatively small, but clustered insider selling near the proposed offer price could weigh on sentiment. ZIM Insider Selling

ZIM Integrated Shipping Services Price Performance

Shares of NYSE ZIM opened at $29.48 on Friday. ZIM Integrated Shipping Services has a 1 year low of $12.33 and a 1 year high of $30.40. The stock has a market capitalization of $3.55 billion, a P/E ratio of 25.63 and a beta of 1.18. The company’s 50-day moving average is $26.29 and its 200 day moving average is $26.29. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.24 and a quick ratio of 1.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Thursday, August 20th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.27). ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%.The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. On average, sell-side analysts expect that ZIM Integrated Shipping Services will post 3.15 earnings per share for the current year.

Insider Activity at ZIM Integrated Shipping Services

In related news, CEO Eli Glickman sold 254,221 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $28.22, for a total transaction of $7,174,116.62. Following the sale, the chief executive officer owned 233,473 shares of the company’s stock, valued at $6,588,608.06. The trade was a 52.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nissim Yochai sold 7,535 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $28.83, for a total transaction of $217,234.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 288,851 shares of company stock worth $8,183,073 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZIM. Pin Oak Investment Advisors Inc. purchased a new position in ZIM Integrated Shipping Services during the second quarter valued at $26,000. Quarry LP purchased a new stake in shares of ZIM Integrated Shipping Services in the third quarter worth $34,000. Huntington National Bank grew its stake in shares of ZIM Integrated Shipping Services by 200,000.0% in the fourth quarter. Huntington National Bank now owns 2,001 shares of the company’s stock worth $42,000 after acquiring an additional 2,000 shares during the last quarter. Pinnacle Holdings LLC bought a new position in shares of ZIM Integrated Shipping Services during the second quarter valued at $42,000. Finally, Larson Financial Group LLC increased its holdings in shares of ZIM Integrated Shipping Services by 158.8% during the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock valued at $44,000 after acquiring an additional 1,998 shares in the last quarter. Institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.