ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Should You Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $21.45, but opened at $20.75. ZIM Integrated Shipping Services shares last traded at $20.76, with a volume of 893,642 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZIM. Barclays raised their target price 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. Jefferies Financial Group cut their price objective on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, December 17th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and an average price target of $15.14.

ZIM Integrated Shipping Services Stock Performance

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 market capitalization of $2.47 billion, a price-to-earnings ratio of 1.72, a PEG ratio of 0.04 and a beta of 1.77. The stock has a 50-day moving average price of $22.18 and a 200-day moving average price of $20.78.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $2.81 dividend. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a dividend yield of 54.86%. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position 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 buying an additional 2,181,000 shares in the last quarter. Marshall Wace LLP raised its holdings in ZIM Integrated Shipping Services by 638.6% in the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after acquiring an additional 2,072,715 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of ZIM Integrated Shipping Services by 59.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after acquiring an additional 674,723 shares during the period. American Century Companies Inc. grew its holdings in shares of ZIM Integrated Shipping Services by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock worth $39,000,000 after purchasing an additional 127,229 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ZIM Integrated Shipping Services by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock worth $22,079,000 after purchasing an additional 36,692 shares during the period. 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.