ZIM Integrated Shipping Services (NYSE:ZIM) Shares Down 4.6% on Analyst Downgrade

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s stock price was down 4.6% during trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $28.00 to $22.00. Jefferies Financial Group currently has a hold rating on the stock. ZIM Integrated Shipping Services traded as low as $18.16 and last traded at $18.62. Approximately 1,538,059 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 6,235,402 shares. The stock had previously closed at $19.51.

ZIM has been the subject of several other research reports. Fearnley Fonds lowered ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday, November 21st. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an "underweight" rating in a report on Monday, November 25th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Finally, Bank of America raised their price target on 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. Five analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of "Hold" and a consensus price target of $15.14.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently bought and sold shares of the stock. Fairman Group LLC purchased a new position in shares of ZIM Integrated Shipping Services during the third quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in ZIM Integrated Shipping Services in the third quarter worth about $31,000. Northwestern Mutual Wealth Management Co. lifted its holdings in ZIM Integrated Shipping Services by 2,341.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company's stock worth $43,000 after buying an additional 1,850 shares during the period. American Capital Advisory LLC bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $69,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $71,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

ZIM Integrated Shipping Services Price Performance

The stock has a market cap of $2.22 billion, a P/E ratio of 1.54, a price-to-earnings-growth ratio of 0.04 and a beta of 1.78. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. The firm has a 50-day moving average price of $22.38 and a 200-day moving average price of $20.66.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a dividend yield of 61.07%. The ex-dividend date was Monday, December 2nd. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. ZIM Integrated Shipping Services's payout ratio is 9.72%.

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.