ZIM Integrated Shipping Services (NYSE:ZIM) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded ZIM Integrated Shipping Services from “strong buy” to “hold.” The broader analyst consensus is also “hold,” with a consensus target price of $19.83.
• ZIM shares opened at $26.98 and have traded between $12.33 and $29.97 over the past year. The company’s latest quarterly earnings missed estimates, reporting $0.53 in EPS versus the $0.80 consensus, while revenue was approximately in line at $1.78 billion.
• Insiders sold 303,840 shares worth $8.52 million during the last quarter, while institutional ownership stands at 21.42% following significant stake increases by several large investors.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the stock an "underweight" rating in a research report on Tuesday, June 30th. Barclays boosted their price target on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, August 27th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of "Hold" and a consensus target price of $19.83.

ZIM Integrated Shipping Services Trading Down 1.5%

Shares of NYSE ZIM opened at $26.98 on Monday. ZIM Integrated Shipping Services has a 12-month low of $12.33 and a 12-month high of $29.97. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 23.46 and a beta of 1.21. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 1.09. The stock's 50 day simple moving average is $25.85 and its 200 day simple moving average is $26.14.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its earnings results on Thursday, August 20th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.27). The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. ZIM Integrated Shipping Services had a return on equity of 1.11% and a net margin of 2.15%. Equities research analysts expect that ZIM Integrated Shipping Services will post 3.15 EPS for the current year.

Insider Activity

In related news, EVP Saar Dotan sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $25.41, for a total transaction of $381,150.00. Following the completion of the transaction, the executive vice president owned 101,667 shares of the company's stock, valued at $2,583,358.47. This trade represents a 12.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Xavier Destriau sold 12,084 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $28.80, for a total transaction of $348,019.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 303,840 shares of company stock worth $8,522,010 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter valued at $89,845,000. California State Teachers Retirement System increased its stake in ZIM Integrated Shipping Services by 2,475.1% in the 2nd quarter. California State Teachers Retirement System now owns 3,270,800 shares of the company's stock worth $85,041,000 after purchasing an additional 3,143,783 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in ZIM Integrated Shipping Services by 29,305.7% during the second quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company's stock valued at $21,088,000 after buying an additional 1,306,157 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of ZIM Integrated Shipping Services in the first quarter worth about $30,302,000. Finally, Yelin Lapidot Holdings Management Ltd. raised its holdings in shares of ZIM Integrated Shipping Services by 34.1% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company's stock valued at $68,973,000 after acquiring an additional 825,848 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. NYSE: ZIM is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.

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