JPMorgan Chase & Co. Has Lowered Expectations for ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $10.00 to $9.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential downside of 53.32% from the company's current price.

Other analysts have also issued research reports about the stock. Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday, November 21st. Jefferies Financial Group decreased their price objective on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a "hold" rating for the company in a research note on Tuesday, December 17th. Barclays cut their target price on ZIM Integrated Shipping Services from $16.50 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, January 10th. Finally, Clarkson Capital upgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.84.

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ZIM Integrated Shipping Services Price Performance

Shares of ZIM Integrated Shipping Services stock traded down $0.27 during mid-day trading on Friday, reaching $20.35. 6,813,606 shares of the stock were exchanged, compared to its average volume of 5,571,819. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 1.70, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. ZIM Integrated Shipping Services has a fifty-two week low of $9.08 and a fifty-two week high of $30.15. The firm has a 50-day simple moving average of $19.35 and a 200 day simple moving average of $20.62.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently made changes to their positions in ZIM. Altshuler Shaham Ltd grew its holdings in shares of ZIM Integrated Shipping Services by 650.0% in the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company's stock valued at $32,000 after acquiring an additional 1,300 shares in the last quarter. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services during the fourth quarter valued at approximately $45,000. Sunbelt Securities Inc. bought a new position in ZIM Integrated Shipping Services in the third quarter valued at approximately $71,000. Farther Finance Advisors LLC increased its position in shares of ZIM Integrated Shipping Services by 467.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,974 shares of the company's stock worth $76,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter worth approximately $79,000. 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.