JPMorgan Chase & Co. Issues Pessimistic Forecast for ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $10.00 to $9.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 54.16% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Barclays dropped their target price on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Jefferies Financial Group lowered 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. Finally, Clarkson Capital raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.84.

ZIM Integrated Shipping Services Stock Performance

ZIM Integrated Shipping Services stock opened at $20.72 on Friday. The firm’s 50 day simple moving average is $19.37 and its 200-day simple moving average is $20.63. The company has a market cap of $2.49 billion, a P/E ratio of 1.74, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. 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 has a fifty-two week low of $9.08 and a fifty-two week high of $30.15.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd lifted its stake in ZIM Integrated Shipping Services by 650.0% in the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock valued at $32,000 after acquiring an additional 1,300 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in ZIM Integrated Shipping Services in the fourth quarter valued at approximately $45,000. Sunbelt Securities Inc. acquired a new stake in ZIM Integrated Shipping Services in the third quarter valued at approximately $71,000. Farther Finance Advisors LLC lifted its stake in ZIM Integrated Shipping Services by 467.6% in the third quarter. Farther Finance Advisors LLC now owns 2,974 shares of the company’s stock valued at $76,000 after acquiring an additional 2,450 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in ZIM Integrated Shipping Services by 126.7% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock valued at $87,000 after acquiring an additional 1,900 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.