Clarkson Capital Upgrades ZIM Integrated Shipping Services (NYSE:ZIM) to Strong-Buy

Clarkson Capital upgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a hold rating to a strong-buy rating in a research report report published on Friday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $25.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, November 20th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Bank of America lifted their target price 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. Barclays increased their price target on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research report on Monday. Finally, Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.74.

ZIM Integrated Shipping Services Stock Down 6.5 %

Shares of NYSE ZIM opened at $22.24 on Friday. The company has a market capitalization of $2.68 billion, a P/E ratio of 1.86, a P/E/G 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. The company has a 50 day simple moving average of $22.85 and a 200-day simple moving average of $20.60. ZIM Integrated Shipping Services has a 1 year low of $6.39 and a 1 year high of $30.15.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be paid a $2.81 dividend. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 dividend on an annualized basis and a dividend yield of 50.54%. The ex-dividend date of this dividend is Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is currently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of ZIM Integrated Shipping Services by 1.6% in the third quarter. Van ECK Associates Corp now owns 38,079 shares of the company’s stock worth $977,000 after purchasing an additional 591 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of ZIM Integrated Shipping Services by 2.1% in the third quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock worth $1,137,000 after buying an additional 915 shares during the last quarter. Fairman Group LLC bought a new stake in ZIM Integrated Shipping Services during the third quarter valued at about $26,000. Olympiad Research LP grew its holdings in ZIM Integrated Shipping Services by 12.9% in the 3rd quarter. Olympiad Research LP now owns 10,588 shares of the company’s stock valued at $272,000 after buying an additional 1,212 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of ZIM Integrated Shipping Services in the third quarter worth $31,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.