Barclays Lowers ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $16.00

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) had its price target dropped by investment analysts at Barclays from $16.50 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Barclays's price target suggests a potential downside of 16.62% from the company's previous close.

Several other equities research analysts have also commented on ZIM. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group reduced their price target on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a "hold" rating for the company in a research report on Tuesday, December 17th. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $15.04.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE:ZIM traded down $1.53 during midday trading on Friday, hitting $19.19. The stock had a trading volume of 9,615,391 shares, compared to its average volume of 5,753,425. ZIM Integrated Shipping Services has a 1 year low of $9.08 and a 1 year high of $30.15. The stock has a 50 day moving average price of $21.98 and a two-hundred day moving average price of $20.78. The company has a market capitalization of $2.31 billion, a PE ratio of 1.61, a P/E/G ratio of 0.04 and a beta of 1.77. 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in ZIM Integrated Shipping Services by 59.4% during the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company's stock worth $46,482,000 after purchasing an additional 674,723 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth $893,000. Sunbelt Securities Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth $71,000. Geode Capital Management LLC boosted its holdings in ZIM Integrated Shipping Services by 3.4% in the third quarter. Geode Capital Management LLC now owns 88,086 shares of the company's stock valued at $2,260,000 after acquiring an additional 2,873 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth about $3,364,000. 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.