ZIM Integrated Shipping Services (NYSE:ZIM) Downgraded to Strong Sell Rating by Fearnley Fonds

ZIM Integrated Shipping Services (NYSE:ZIM) was downgraded by analysts at Fearnley Fonds from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on ZIM. Jefferies Financial Group reaffirmed a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Bank of America increased their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, Barclays boosted their target price on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Stock Down 1.8 %

Shares of NYSE ZIM opened at $23.79 on Thursday. The business has a 50-day simple moving average of $22.78 and a two-hundred day simple moving average of $20.47. ZIM Integrated Shipping Services has a 52 week low of $6.39 and a 52 week high of $30.15. The company has a market cap of $2.86 billion, a P/E ratio of 1.99, a P/E/G ratio of 0.04 and a beta of 1.88. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in ZIM Integrated Shipping Services by 479.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after purchasing an additional 2,181,000 shares during the period. Marshall Wace LLP grew its stake in shares of ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after buying an additional 2,072,715 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services in the second quarter worth about $14,383,000. International Assets Investment Management LLC lifted its stake in shares of ZIM Integrated Shipping Services by 2,228.7% in the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after acquiring an additional 385,562 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in ZIM Integrated Shipping Services by 9,573.0% during the 3rd quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock valued at $9,506,000 after acquiring an additional 366,647 shares during the period. 21.42% of the stock is currently owned by institutional investors.

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.