ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down prior to trading on Thursday . The stock had previously closed at $27.01, but opened at $26.00. ZIM Integrated Shipping Services shares last traded at $24.05, with a volume of 1,087,145 shares trading hands.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Bank of America upped their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Barclays upped their target price on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $15.22.

ZIM Integrated Shipping Services Trading Down 12.1 %

The company has a market cap of $2.86 billion, a price-to-earnings ratio of -1.48, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average price of $22.55 and a 200 day moving average price of $20.38.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business earned ($1.37) EPS. As a group, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 13.65 EPS for the current year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its holdings in shares of ZIM Integrated Shipping Services by 479.9% during 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 grew its holdings in shares of ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after buying an additional 2,072,715 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services during the second quarter valued at $14,383,000. International Assets Investment Management LLC grew its holdings in shares of ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of ZIM Integrated Shipping Services by 9,573.0% during the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock valued at $9,506,000 after buying an additional 366,647 shares in 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.