ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up to $11.39

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up prior to trading on Friday . The stock had previously closed at $11.39, but opened at $11.90. ZIM Integrated Shipping Services shares last traded at $13.36, with a volume of 5,457,312 shares changing hands.

Wall Street Analysts Forecast Growth

ZIM has been the topic of a number of research analyst reports. Bank of America decreased their price objective on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a report on Tuesday, March 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.51.

ZIM Integrated Shipping Services Stock Up 16.1 %

The company has a quick ratio of 0.95, a current ratio of 1.02 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -0.58 and a beta of 1.84. The stock’s fifty day moving average price is $10.87 and its 200-day moving average price is $10.34.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.10. ZIM Integrated Shipping Services had a negative net margin of 52.22% and a negative return on equity of 16.29%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. On average, sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its stake in shares of ZIM Integrated Shipping Services by 83.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 38,920 shares of the company’s stock valued at $407,000 after buying an additional 17,675 shares in the last quarter. Raymond James & Associates raised its stake in ZIM Integrated Shipping Services by 164.8% in the third quarter. Raymond James & Associates now owns 26,508 shares of the company’s stock valued at $277,000 after purchasing an additional 16,499 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in ZIM Integrated Shipping Services by 24.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 65,890 shares of the company’s stock valued at $689,000 after purchasing an additional 12,808 shares in the last quarter. GW Henssler & Associates Ltd. acquired a new position in ZIM Integrated Shipping Services in the third quarter valued at about $173,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ZIM Integrated Shipping Services by 27.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,852 shares of the company’s stock worth $239,000 after acquiring an additional 4,894 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.