Barclays Issues Pessimistic Forecast for ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective reduced by Barclays from $16.50 to $16.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price would indicate a potential downside of 16.19% from the stock’s previous close.

Several other analysts also recently commented on ZIM. Jefferies Financial Group decreased 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. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and an average target price of $15.04.

ZIM Integrated Shipping Services Stock Performance

ZIM Integrated Shipping Services stock traded down $1.63 during midday trading on Friday, hitting $19.09. The stock had a trading volume of 6,373,446 shares, compared to its average volume of 5,174,415. ZIM Integrated Shipping Services has a 52-week low of $9.08 and a 52-week high of $30.15. The company has a market capitalization of $2.30 billion, a PE ratio of 1.60, a P/E/G ratio of 0.04 and a beta of 1.77. The firm’s fifty day moving average is $22.09 and its two-hundred day moving average is $20.79. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC grew its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after purchasing an additional 2,181,000 shares in the last quarter. Marshall Wace LLP grew its stake in shares of ZIM Integrated Shipping Services by 638.6% in the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after buying an additional 2,072,715 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of ZIM Integrated Shipping Services by 59.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock worth $46,482,000 after buying an additional 674,723 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the 2nd quarter valued at about $14,383,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 2,228.7% in the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after acquiring an additional 385,562 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

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.