ZIM Integrated Shipping Services (NYSE:ZIM) Reaches New 1-Year High - Still a Buy?

Key Points

• ZIM shares reached a new 52-week high of $30.40, last trading near $29.66 after rising 4.4%. The stock’s market capitalization is approximately $3.60 billion.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $19.83, well below the current price. Recent ratings include multiple “underweight” or “hold” recommendations.
• ZIM reported quarterly EPS of $0.53, missing the $0.80 consensus estimate, while revenue of $1.78 billion was roughly in line with expectations. Insiders sold about 290,371 shares worth $8.18 million over the past three months.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $30.40 and last traded at $29.6610, with a volume of 1607372 shares traded. The stock had previously closed at $28.58.

Analyst Upgrades and Downgrades

ZIM has been the topic of several analyst reports. Barclays lifted their price target on ZIM Integrated Shipping Services from $17.00 to $20.00 and gave the stock an "underweight" rating in a report on Thursday, August 27th. Weiss Ratings reissued a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, September 2nd. JPMorgan Chase & Co. raised their price objective 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. Finally, Zacks Research lowered shares of ZIM Integrated Shipping Services from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of "Hold" and a consensus target price of $19.83.

ZIM Integrated Shipping Services Stock Up 4.4%

The business has a 50-day moving average of $26.05 and a 200-day moving average of $26.28. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.24. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 25.92 and a beta of 1.18.

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

Insiders Place Their Bets

In related news, Director Birger Johanne Meyer-Gloeckner sold 1,531 shares of the business's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $28.50, for a total value of $43,633.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Xavier Destriau sold 12,084 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $28.80, for a total value of $348,019.20. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 290,371 shares of company stock valued at $8,184,493. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of ZIM Integrated Shipping Services during the fourth quarter worth about $89,845,000. California State Teachers Retirement System lifted its stake in ZIM Integrated Shipping Services by 2,475.1% in the second quarter. California State Teachers Retirement System now owns 3,270,800 shares of the company's stock worth $85,041,000 after acquiring an additional 3,143,783 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in ZIM Integrated Shipping Services by 29,305.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company's stock worth $21,088,000 after acquiring an additional 1,306,157 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter valued at approximately $30,302,000. Finally, Yelin Lapidot Holdings Management Ltd. raised its holdings in shares of ZIM Integrated Shipping Services by 34.1% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,248,834 shares of the company's stock valued at $68,973,000 after purchasing an additional 825,848 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. 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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