ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Still a Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up before the market opened on Thursday . The stock had previously closed at $16.52, but opened at $16.99. ZIM Integrated Shipping Services shares last traded at $17.10, with a volume of 1,053,536 shares.

Analysts Set New Price Targets

ZIM has been the subject of a number of research reports. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Barclays reduced their price target on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group reduced their price target on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, December 17th. Five equities research 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.04.

ZIM Integrated Shipping Services Stock Performance

The firm has a market cap of $2.03 billion, a P/E ratio of 1.41, a PEG ratio of 0.21 and a beta of 1.77. The stock’s 50 day moving average is $20.79 and its two-hundred day moving average is $20.49. 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 company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $2.81 per share. The ex-dividend date was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a dividend yield of 66.67%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of 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 worth $53,148,000 after acquiring an additional 2,072,715 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 worth $46,482,000 after acquiring an additional 674,723 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in ZIM Integrated Shipping Services during the 2nd quarter worth about $14,383,000. International Assets Investment Management LLC grew its holdings in ZIM Integrated Shipping Services by 2,228.7% during the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock worth $10,337,000 after acquiring an additional 385,562 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in ZIM Integrated Shipping Services by 9,573.0% during the 3rd quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after acquiring an additional 366,647 shares during 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.