ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Raised to $16.50

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target raised by stock analysts at Barclays from $13.90 to $16.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price points to a potential downside of 26.01% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Bank of America upped their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Jefferies Financial Group reissued a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, November 20th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday. Five equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.74.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $22.30 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 1.87, a price-to-earnings-growth ratio of 0.05 and a beta of 1.88. ZIM Integrated Shipping Services has a fifty-two week low of $6.39 and a fifty-two week high of $30.15. The business has a fifty day moving average of $22.78 and a 200-day moving average of $20.56.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Large 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 second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $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% in 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 in the last quarter. American Century Companies Inc. raised its holdings in shares of ZIM Integrated Shipping Services by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after buying an additional 127,229 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ZIM Integrated Shipping Services by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock worth $22,079,000 after acquiring an additional 36,692 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter worth approximately $14,383,000. 21.42% of the stock is currently 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.