ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on ZIM, with two sells, four holds and two strong buys; the average 12-month price target is $19.33.
• ZIM’s shares opened at $26.94, near their 12-month high of $29.97, despite the company reporting a quarterly EPS loss of $0.72 that missed estimates and revenue below expectations.
• Insiders sold 61,000 shares worth $1.54 million over the past 90 days, while institutional investors own 21.42% of the company and several major funds increased their holdings.

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) have been given an average rating of "Hold" by the eight brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.3333.

Several brokerages have recently weighed in on ZIM. Barclays upped their price target on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the stock an "underweight" rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. boosted 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 note on Tuesday, June 30th. Weiss Ratings restated a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a report on Friday, June 5th. Finally, Zacks Research raised ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 2nd.

Insiders Place Their Bets

In related news, EVP Saar Dotan sold 11,000 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.11, for a total transaction of $287,210.00. Following the sale, the executive vice president owned 90,667 shares of the company's stock, valued at $2,367,315.37. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 61,000 shares of company stock worth $1,537,310 over the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of ZIM Integrated Shipping Services by 20.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock worth $68,879,000 after acquiring an additional 788,514 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in ZIM Integrated Shipping Services in the fourth quarter valued at approximately $89,845,000. Meitav Investment House Ltd. boosted its stake in 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 in the last quarter. Yelin Lapidot Holdings Management Ltd. grew its holdings in ZIM Integrated Shipping Services by 1.2% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 3,308,773 shares of the company's stock worth $86,028,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in ZIM Integrated Shipping Services by 2.0% in the first quarter. Renaissance Technologies LLC now owns 2,936,288 shares of the company's stock worth $77,371,000 after purchasing an additional 58,603 shares during the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM stock opened at $26.94 on Monday. ZIM Integrated Shipping Services has a twelve month low of $12.33 and a twelve month high of $29.97. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 33.26 and a beta of 1.21. The stock has a fifty day simple moving average of $25.10 and a two-hundred day simple moving average of $25.49. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.48 billion. On average, analysts predict that ZIM Integrated Shipping Services will post 3.15 EPS for the current fiscal year.

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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