ZIM Integrated Shipping Services (NYSE:ZIM) Downgraded by Jefferies Financial Group

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) was downgraded by research analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $25.00 price objective on the stock. Jefferies Financial Group's price objective indicates a potential upside of 6.88% from the company's current price.

ZIM has been the topic of a number of other research reports. Citigroup cut ZIM Integrated Shipping Services from a "neutral" rating to a "sell" rating and raised their price target for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Barclays upped their price target on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an "underweight" rating in a report on Friday, August 23rd. Finally, Bank of America boosted their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an "underperform" rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $15.44.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM traded down $0.93 during trading hours on Wednesday, hitting $23.39. The company had a trading volume of 4,756,322 shares, compared to its average volume of 6,084,521. The business has a fifty day moving average of $19.69 and a 200-day moving average of $17.41. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -1.10, a PEG ratio of 0.05 and a beta of 1.83. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $26.20.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.07 by $1.01. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period last year, the firm posted ($1.37) EPS. Equities analysts anticipate that ZIM Integrated Shipping Services will post 10.87 EPS for the current fiscal year.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in 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 raised its stake in ZIM Integrated Shipping Services by 638.6% during 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 during the period. Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services in the second quarter worth approximately $14,383,000. Millennium Management LLC grew its stake in ZIM Integrated Shipping Services by 306.7% in the second quarter. Millennium Management LLC now owns 425,795 shares of the company's stock valued at $9,440,000 after acquiring an additional 321,100 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in ZIM Integrated Shipping Services in the second quarter valued at approximately $5,849,000. Institutional investors and hedge funds own 21.42% of the company's stock.

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.