Barclays Raises ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $15.00

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target raised by equities researchers at Barclays from $12.50 to $15.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target suggests a potential downside of 27.82% from the stock’s previous close.

Several other equities analysts have also recently weighed in on ZIM. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a research report on Monday. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and raised their target price for the company from $11.60 to $13.00 in a research report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has an average rating of “Hold” and a consensus target price of $13.41.

ZIM Integrated Shipping Services Stock Down 2.1 %

ZIM traded down $0.45 during midday trading on Friday, hitting $20.78. The company had a trading volume of 406,898 shares, compared to its average volume of 6,111,366. The stock’s 50 day moving average price is $19.52 and its 200 day moving average price is $15.74. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -0.98, a PEG ratio of 0.09 and a beta of 1.85. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 1.49. ZIM Integrated Shipping Services has a 52 week low of $6.39 and a 52 week high of $23.82.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. During the same period last year, the business earned ($1.37) EPS. On average, research analysts anticipate that ZIM Integrated Shipping Services will post 6.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after acquiring an additional 2,181,000 shares during the period. Marshall Wace LLP increased its holdings in shares of ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after purchasing an additional 2,072,715 shares during the period. American Century Companies Inc. raised its position in shares of ZIM Integrated Shipping Services by 7.8% in the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock worth $39,000,000 after buying an additional 127,229 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in ZIM Integrated Shipping Services during the second quarter valued at $14,383,000. Finally, Charles Schwab Investment Management Inc. grew its position in ZIM Integrated Shipping Services by 82.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock worth $5,054,000 after buying an additional 231,955 shares in the last quarter. 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., 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.