ZIM Integrated Shipping Services (NYSE:ZIM) Given New $22.00 Price Target at Jefferies Financial Group

ZIM Integrated Shipping Services (NYSE:ZIM) had its target price reduced by equities researchers at Jefferies Financial Group from $28.00 to $22.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 20.88% from the stock’s previous close.

Several other research analysts have also issued reports on ZIM. Bank of America raised their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Barclays raised 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 report on Monday, November 25th. Finally, Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.14.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $18.20 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. ZIM Integrated Shipping Services has a 52-week low of $9.08 and a 52-week high of $30.15. The company has a market capitalization of $2.19 billion, a P/E ratio of 1.52, a PEG ratio of 0.04 and a beta of 1.78. The company has a fifty day moving average price of $22.37 and a 200-day moving average price of $20.64.

Institutional Trading of ZIM Integrated Shipping Services

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