ZIM Integrated Shipping Services (NYSE:ZIM) Reaches New 12-Month High Following Analyst Upgrade

Key Points

• ZIM shares reached a new 52-week high, trading as high as $30.98 after JPMorgan raised its price target from $16.50 to $22.00, although it maintained an underweight rating.
• Analyst sentiment remains cautious: ZIM has an average “Hold” rating and a consensus price target of $22.42, well below the stock’s recent trading level.
• Insiders sold approximately 320,122 shares worth $9.1 million over the past quarter, while the company’s latest quarterly EPS of $0.53 missed analysts’ $0.80 estimate.

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $16.50 to $22.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. ZIM Integrated Shipping Services traded as high as $30.98 and last traded at $30.8820, with a volume of 1,429,077 shares changing hands. The stock had previously closed at $29.99.

A number of other research analysts have also recently commented on ZIM. Weiss Ratings upgraded ZIM Integrated Shipping Services from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. Zacks Research cut ZIM Integrated Shipping Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Finally, Barclays set a $30.00 price objective on ZIM Integrated Shipping Services and gave the company an "equal weight" rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $22.42.

Insider Activity at ZIM Integrated Shipping Services

In other news, Director Birger Meyer-Gloeckner sold 1,531 shares of ZIM Integrated Shipping Services stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $28.50, for a total value of $43,633.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sami Jubran sold 3,020 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $29.91, for a total value of $90,328.20. The SEC filing for this sale provides additional information. Insiders have sold 320,122 shares of company stock worth $9,114,905 over the last quarter. 1.30% of the stock is currently owned by insiders.

Institutional Trading of ZIM Integrated Shipping Services

Several hedge funds have recently added to or reduced their stakes in ZIM. Sigma Planning Corp grew its stake in shares of ZIM Integrated Shipping Services by 3.8% during the second quarter. Sigma Planning Corp now owns 11,475 shares of the company's stock worth $298,000 after purchasing an additional 425 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in ZIM Integrated Shipping Services by 2.3% in the first quarter. Pictet Asset Management Holding SA now owns 22,528 shares of the company's stock valued at $594,000 after buying an additional 497 shares in the last quarter. Amundi raised its stake in ZIM Integrated Shipping Services by 5.3% in the second quarter. Amundi now owns 12,213 shares of the company's stock valued at $318,000 after buying an additional 612 shares in the last quarter. Cidel Asset Management Inc. raised its stake in ZIM Integrated Shipping Services by 7.1% in the second quarter. Cidel Asset Management Inc. now owns 13,271 shares of the company's stock valued at $345,000 after buying an additional 883 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in ZIM Integrated Shipping Services by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 50,729 shares of the company's stock worth $1,319,000 after buying an additional 927 shares during the last quarter. Institutional investors and hedge funds own 21.42% of the company's stock.

ZIM Integrated Shipping Services Price Performance

The company has a market capitalization of $3.73 billion, a PE ratio of 26.87 and a beta of 1.22. 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 has a fifty day simple moving average of $28.44 and a 200-day simple moving average of $26.54.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The company reported $0.53 earnings per share (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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.79 billion. Equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. NYSE: ZIM is a global container liner company headquartered in Haifa, Israel. Founded in 1945, ZIM provides maritime transportation services for importers, exporters, manufacturers and other businesses that move goods internationally.

The company operates a network of container shipping routes connecting major trade lanes and ports across Asia, Europe, the Mediterranean, North America, Latin America and other regions. Its services include the transportation of dry and refrigerated containers, specialized cargo, and vehicles, supported by cargo handling, documentation and related logistics services.

ZIM also offers digital tools and logistics solutions designed to help customers manage shipments, track cargo and coordinate international supply chains.

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