ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up - Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $22.10, but opened at $22.85. ZIM Integrated Shipping Services shares last traded at $22.65, with a volume of 1,865,583 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on ZIM. Jefferies Financial Group reiterated a "hold" rating and issued a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, November 20th. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a research report on Thursday, November 21st. Bank of America increased their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an "underperform" rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Clarkson Capital raised ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Five 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.74.

ZIM Integrated Shipping Services Stock Down 0.3 %

The firm has a 50-day simple moving average of $23.01 and a 200 day simple moving average of $20.67. The stock has a market capitalization of $2.65 billion, a P/E ratio of 1.85, a P/E/G ratio of 0.05 and a beta of 1.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a $2.81 dividend. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $11.24 annualized dividend and a dividend yield of 51.00%. ZIM Integrated Shipping Services's payout ratio is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently made changes to their positions in ZIM. Renaissance Technologies LLC increased its holdings 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 worth $58,429,000 after purchasing an additional 2,181,000 shares in the last quarter. Marshall Wace LLP increased 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 valued at $53,148,000 after acquiring an additional 2,072,715 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 2nd quarter valued at $14,383,000. International Assets Investment Management LLC boosted its stake in ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company's stock worth $10,337,000 after acquiring an additional 385,562 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in ZIM Integrated Shipping Services by 9,573.0% during the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company's stock worth $9,506,000 after acquiring an additional 366,647 shares in the last quarter. 21.42% of the stock is 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.