JPMorgan Chase & Co. Cuts ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $9.50

ZIM Integrated Shipping Services (NYSE:ZIM) had its target price cut by JPMorgan Chase & Co. from $10.00 to $9.50 in a report issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 54.89% from the company’s current price.

ZIM has been the topic of a number of other research reports. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Barclays lowered their target price on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Jefferies Financial Group cut their target price on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, December 17th. Finally, Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Five 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 stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and an average price target of $14.84.

ZIM Integrated Shipping Services Trading Up 6.5 %

NYSE ZIM traded up $1.29 during trading hours on Friday, hitting $21.06. The company’s stock had a trading volume of 2,661,483 shares, compared to its average volume of 5,402,688. ZIM Integrated Shipping Services has a twelve month low of $9.08 and a twelve month high of $30.15. The stock has a fifty day moving average of $19.39 and a 200 day moving average of $20.65. The firm has a market capitalization of $2.54 billion, a P/E ratio of 1.77, a PEG ratio of 0.27 and a beta of 1.70. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its position in ZIM Integrated Shipping Services by 1.6% in the third quarter. Van ECK Associates Corp now owns 38,079 shares of the company’s stock valued at $977,000 after buying an additional 591 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of ZIM Integrated Shipping Services by 4.9% in the 4th quarter. Lazard Asset Management LLC now owns 15,443 shares of the company’s stock valued at $331,000 after purchasing an additional 722 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in ZIM Integrated Shipping Services by 26.5% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,300 shares of the company’s stock valued at $92,000 after acquiring an additional 900 shares during the period. Janney Montgomery Scott LLC boosted its holdings in ZIM Integrated Shipping Services by 2.1% in the third quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock valued at $1,137,000 after purchasing an additional 915 shares during the period. Finally, Olympiad Research LP lifted its position in shares of ZIM Integrated Shipping Services by 12.9% during the 3rd quarter. Olympiad Research LP now owns 10,588 shares of the company’s stock worth $272,000 after purchasing an additional 1,212 shares during the last quarter. 21.42% of the stock is owned by institutional investors.

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.