ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 4.6% – Should You Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price was down 4.6% during mid-day trading on Monday . The company traded as low as $22.32 and last traded at $22.69. Approximately 1,315,558 shares changed hands during trading, a decline of 79% from the average daily volume of 6,125,721 shares. The stock had previously closed at $23.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Jefferies Financial Group restated a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Finally, Bank of America boosted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.74.

ZIM Integrated Shipping Services Stock Performance

The firm has a 50 day simple moving average of $22.88 and a 200-day simple moving average of $20.63. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 1.77, 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued 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 annualized dividend and a yield of 53.27%. The ex-dividend date of this dividend is Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after buying an additional 2,181,000 shares during the period. Marshall Wace LLP increased its stake 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 worth $53,148,000 after purchasing an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the second quarter worth about $14,383,000. International Assets Investment Management LLC boosted its stake in shares of ZIM Integrated Shipping Services by 2,228.7% in the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after purchasing an additional 385,562 shares during the period. Finally, Quantbot Technologies LP grew its holdings in shares of ZIM Integrated Shipping Services by 9,573.0% in the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock valued at $9,506,000 after purchasing an additional 366,647 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.