ZIM Integrated Shipping Services (NYSE:ZIM) Receives “Underweight” Rating from JPMorgan Chase & Co.

ZIM Integrated Shipping Services (NYSE:ZIM)‘s stock had its “underweight” rating reiterated by research analysts at JPMorgan Chase & Co. in a research report issued on Tuesday, Benzinga reports. They currently have a $10.50 price objective on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 35.62% from the company’s previous close.

A number of other research analysts have also recently weighed in on ZIM. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Bank of America increased their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Barclays boosted their price objective on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Finally, Citigroup downgraded 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 report on Thursday, June 6th. Four equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $14.84.

ZIM Integrated Shipping Services Price Performance

ZIM Integrated Shipping Services stock opened at $16.31 on Tuesday. ZIM Integrated Shipping Services has a 1 year low of $6.39 and a 1 year high of $23.82. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a 50 day moving average price of $18.99 and a 200 day moving average price of $16.27. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -0.77, a PEG ratio of 0.03 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings data on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $1.01. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same period in the previous year, the company earned ($1.37) EPS. Sell-side analysts predict that ZIM Integrated Shipping Services will post 11.79 earnings per share for the current year.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of ZIM. Private Advisor Group LLC bought a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter worth $127,000. Charles Schwab Investment Management Inc. raised its stake in shares of ZIM Integrated Shipping Services by 82.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after purchasing an additional 231,955 shares in the last quarter. Jump Financial LLC bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter worth about $130,000. Allianz Asset Management GmbH grew its stake in ZIM Integrated Shipping Services by 1,446.0% in the fourth quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock worth $1,595,000 after purchasing an additional 151,102 shares in the last quarter. Finally, Olympiad Research LP increased its holdings in ZIM Integrated Shipping Services by 2.8% in the fourth quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after buying an additional 1,364 shares during the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.