ZIM Integrated Shipping Services (NYSE:ZIM) Trading 12.3% Higher – Still a Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded up 12.3% during mid-day trading on Monday . The company traded as high as $20.67 and last traded at $20.65. 4,414,530 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 6,217,032 shares. The stock had previously closed at $18.39.

Analyst Ratings Changes

ZIM has been the topic of a number of research reports. 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. Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. 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. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, November 20th. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.74.

ZIM Integrated Shipping Services Stock Up 11.1 %

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The business has a 50 day simple moving average of $23.01 and a 200 day simple moving average of $20.69. The stock has a market cap of $2.46 billion, a PE ratio of 1.69, a P/E/G ratio of 0.05 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a $2.81 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 54.99%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio is currently 9.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $893,000. Sunbelt Securities Inc. acquired a new stake in shares of ZIM Integrated Shipping Services in the third quarter worth $71,000. Geode Capital Management LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 88,086 shares of the company’s stock worth $2,260,000 after buying an additional 2,873 shares during the period. Public Employees Retirement System of Ohio acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $3,364,000. Finally, Y Intercept Hong Kong Ltd bought a new position in ZIM Integrated Shipping Services in the 3rd quarter worth $2,612,000. Institutional investors own 21.42% of the company’s stock.

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.