ZIM Integrated Shipping Services (NYSE:ZIM) Stock Rating Upgraded by Clarkson Capital

ZIM Integrated Shipping Services (NYSE:ZIM) was upgraded by analysts at Clarkson Capital from a “hold” rating to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

A number of other research firms also recently commented on ZIM. Barclays boosted their price objective on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research note on Monday. Bank of America upped their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Finally, Fearnley Fonds cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and an average target price of $15.74.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE:ZIM opened at $22.24 on Friday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 1.86, a PEG ratio of 0.05 and a beta of 1.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $30.15. The stock’s 50 day moving average price is $22.85 and its 200 day moving average price is $20.60.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after purchasing an additional 2,181,000 shares in the last quarter. Marshall Wace LLP raised its position in ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after buying an additional 2,072,715 shares during the period. American Century Companies Inc. lifted its stake in ZIM Integrated Shipping Services by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock worth $39,000,000 after acquiring an additional 127,229 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ZIM Integrated Shipping Services by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock worth $22,079,000 after acquiring an additional 36,692 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new position in ZIM Integrated Shipping Services during the 2nd quarter valued at about $14,383,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

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.