Barclays Forecasts Strong Price Appreciation for ZIM Integrated Shipping Services (NYSE:ZIM) Stock

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) had its price objective raised by research analysts at Barclays from $13.90 to $16.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's price target indicates a potential downside of 25.81% from the stock's previous close.

ZIM has been the subject of several other reports. Bank of America increased their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an "underperform" rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Fearnley Fonds lowered ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Five investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $15.74.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE ZIM traded down $1.54 during mid-day trading on Monday, hitting $22.24. 14,629,504 shares of the company were exchanged, compared to its average volume of 6,179,759. The stock has a 50 day simple moving average of $22.85 and a 200-day simple moving average of $20.60. ZIM Integrated Shipping Services has a 1-year low of $6.39 and a 1-year high of $30.15. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 1.86, a price-to-earnings-growth ratio of 0.05 and a beta of 1.88.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in ZIM Integrated Shipping Services by 479.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company's stock valued at $58,429,000 after buying an additional 2,181,000 shares during the last quarter. Marshall Wace LLP increased its position 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 purchasing an additional 2,072,715 shares in the last quarter. American Century Companies Inc. raised its stake in ZIM Integrated Shipping Services by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company's stock valued at $39,000,000 after purchasing an additional 127,229 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ZIM Integrated Shipping Services by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company's stock valued at $22,079,000 after purchasing an additional 36,692 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the 2nd quarter worth about $14,383,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.