ZIM Integrated Shipping Services (NYSE:ZIM) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded ZIM to “strong-buy,” while Zacks Research also assigned a strong-buy rating. However, the broader analyst consensus remains “Hold,” with an average price target of $22.42.
• ZIM shares opened at $29.33, near the upper end of their $13.56–$30.98 52-week range, with a market capitalization of approximately $3.54 billion.
• The company’s latest quarterly results fell short of expectations, reporting $0.64 in earnings per share versus the $0.80 consensus estimate and $1.78 billion in revenue versus $1.79 billion expected.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "strong-buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. upped their target price on ZIM Integrated Shipping Services from $16.50 to $22.00 and gave the company an "underweight" rating in a research report on Monday, October 12th. Weiss Ratings raised shares of ZIM Integrated Shipping Services from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Barclays set a $30.00 price target on shares of ZIM Integrated Shipping Services and gave the stock an "equal weight" rating in a research note on Monday, September 14th. Finally, Zacks Research raised shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $22.42.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM opened at $29.33 on Friday. The firm has a market cap of $3.54 billion, a PE ratio of 25.51 and a beta of 1.22. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.24 and a quick ratio of 1.15. ZIM Integrated Shipping Services has a 1-year low of $13.56 and a 1-year high of $30.98. The firm has a 50 day simple moving average of $29.08 and a 200-day simple moving average of $26.77.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.16). ZIM Integrated Shipping Services had a net margin of 2.15% and a return on equity of 1.11%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. On average, equities analysts expect that ZIM Integrated Shipping Services will post 8.86 EPS for the current year.

Insider Buying and Selling

In other news, EVP Assaf Tiran sold 4,727 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $29.51, for a total value of $139,493.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nissim Yochai sold 7,535 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $28.83, for a total transaction of $217,234.05. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 320,122 shares of company stock valued at $9,114,905. Company insiders own 1.30% of the company's stock.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Oddo BHF Asset Management Sas bought a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter valued at approximately $30,302,000. Hsbc Holdings PLC bought a new position in ZIM Integrated Shipping Services during the first quarter valued at $16,409,000. Meitav Investment House Ltd. raised its stake in shares of ZIM Integrated Shipping Services by 13.7% in the first quarter. Meitav Investment House Ltd. now owns 3,906,396 shares of the company's stock valued at $102,934,000 after acquiring an additional 472,092 shares during the period. OMERS ADMINISTRATION Corp grew its holdings in ZIM Integrated Shipping Services by 1,462.5% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 368,056 shares of the company's stock valued at $9,698,000 after purchasing an additional 344,501 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in ZIM Integrated Shipping Services during the 1st quarter valued at about $7,283,000. Institutional investors own 21.42% of the company's stock.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. is an Israel-based container shipping company that provides international transportation and logistics services. The company transports a broad range of cargo, including general, refrigerated, hazardous and oversized goods, using container vessels and related intermodal transportation solutions.

ZIM operates shipping services across major global trade routes, connecting markets in Asia, Europe, the Mediterranean, North and South America, Africa and other regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.