ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – What’s Next?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up prior to trading on Wednesday. The stock had previously closed at $29.20, but opened at $30.03. ZIM Integrated Shipping Services shares last traded at $30.1850, with a volume of 387,140 shares.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ZIM shares. Zacks Research cut ZIM Integrated Shipping Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. increased their price objective on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an “underweight” rating in a research note on Tuesday, June 30th. Weiss Ratings restated a “hold (c-)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, September 2nd. Finally, Barclays set a $30.00 target price on shares of ZIM Integrated Shipping Services and gave the company an “equal weight” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ZIM Integrated Shipping Services has an average rating of “Hold” and a consensus price target of $21.50.

ZIM Integrated Shipping Services Trading Up 2.9%

The company has a debt-to-equity ratio of 1.09, a current ratio of 1.24 and a quick ratio of 1.15. The stock’s 50-day simple moving average is $28.12 and its two-hundred day simple moving average is $26.46. The firm has a market capitalization of $3.62 billion, a P/E ratio of 26.21 and a beta of 1.22.

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

Insiders Place Their Bets

In other news, EVP Assaf Tiran sold 4,727 shares of ZIM Integrated Shipping Services stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $29.51, for a total transaction of $139,493.77. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eli Glickman sold 254,221 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $28.22, for a total transaction of $7,174,116.62. Following the completion of the transaction, the chief executive officer directly owned 233,473 shares in the company, valued at $6,588,608.06. This trade represents a 52.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 320,122 shares of company stock worth $9,114,905 over the last ninety days. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in ZIM Integrated Shipping Services by 2.9% in the second 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. WINTON GROUP Ltd bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $679,000. Cidel Asset Management Inc. lifted its stake in shares of ZIM Integrated Shipping Services by 7.1% in the 2nd quarter. Cidel Asset Management Inc. now owns 13,271 shares of the company’s stock valued at $345,000 after purchasing an additional 883 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of ZIM Integrated Shipping Services by 9.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,507 shares of the company’s stock valued at $455,000 after purchasing an additional 1,468 shares during the last quarter. Finally, Amundi boosted its stake in ZIM Integrated Shipping Services by 5.3% during the second quarter. Amundi now owns 12,213 shares of the company’s stock worth $318,000 after buying an additional 612 shares during the period. Hedge funds and other institutional investors 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.