ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 9.9% on Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price fell 9.9% on Friday after Barclays lowered their price target on the stock from $16.50 to $16.00. Barclays currently has an underweight rating on the stock. ZIM Integrated Shipping Services traded as low as $18.54 and last traded at $18.67. 2,248,043 shares were traded during trading, a decline of 49% from the average session volume of 4,416,956 shares. The stock had previously closed at $20.72.

ZIM has been the subject of several other reports. Jefferies Financial Group lowered their price target on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday, December 17th. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.04.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of the stock. Fairman Group LLC acquired a new position in shares of ZIM Integrated Shipping Services during the third quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in ZIM Integrated Shipping Services in the third quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 worth $43,000 after acquiring an additional 1,850 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at approximately $69,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at $71,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 7.4 %

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 business’s 50 day moving average is $21.98 and its 200 day moving average is $20.78. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 1.61, a P/E/G ratio of 0.04 and a beta of 1.77.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a yield of 58.57%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

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.