ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 4.6% Following Analyst Downgrade

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded down 4.6% on Tuesday after Jefferies Financial Group lowered their price target on the stock from $28.00 to $22.00. Jefferies Financial Group currently has a hold rating on the stock. ZIM Integrated Shipping Services traded as low as $18.16 and last traded at $18.62. 1,538,059 shares were traded during mid-day trading, a decline of 75% from the average session volume of 6,235,402 shares. The stock had previously closed at $19.51.

ZIM has been the subject of several other research reports. Bank of America increased their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Barclays boosted their target price on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Fearnley Fonds cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Finally, Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.14.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZIM. Fairman Group LLC bought a new position in shares of ZIM Integrated Shipping Services during the third quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. increased its stake in ZIM Integrated Shipping Services by 2,341.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after purchasing an additional 1,850 shares in the last quarter. American Capital Advisory LLC purchased a new position in ZIM Integrated Shipping Services in the third quarter worth about $69,000. Finally, Sunbelt Securities Inc. bought a new position in shares of ZIM Integrated Shipping Services in the third quarter worth approximately $71,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 5.7 %

The stock has a market cap of $2.22 billion, a PE ratio of 1.54, a PEG ratio of 0.04 and a beta of 1.78. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The stock’s fifty day moving average price is $22.38 and its 200 day moving average price is $20.66.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced 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 a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a dividend yield of 61.07%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 9.72%.

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.