ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down prior to trading on Thursday . The stock had previously closed at $27.01, but opened at $26.00. ZIM Integrated Shipping Services shares last traded at $24.05, with a volume of 1,087,145 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ZIM shares. Bank of America boosted their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Jefferies Financial Group reissued a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday. Finally, Barclays boosted their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Reduce” and a consensus target price of $15.22.

ZIM Integrated Shipping Services Stock Performance

The firm has a fifty day simple moving average of $22.55 and a 200-day simple moving average of $20.38. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -1.48, a P/E/G ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same quarter in the prior year, the business posted ($1.37) EPS. Analysts forecast that ZIM Integrated Shipping Services Ltd. will post 13.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZIM. Virtu Financial LLC bought a new position in ZIM Integrated Shipping Services during the third quarter worth about $893,000. Sunbelt Securities Inc. bought a new position in ZIM Integrated Shipping Services during the third quarter worth about $71,000. Geode Capital Management LLC increased its position in ZIM Integrated Shipping Services by 3.4% during the third quarter. Geode Capital Management LLC now owns 88,086 shares of the company’s stock worth $2,260,000 after acquiring an additional 2,873 shares during the period. Public Employees Retirement System of Ohio bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at about $3,364,000. Finally, Y Intercept Hong Kong Ltd bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at about $2,612,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.