ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 5.9% – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price rose 5.9% during mid-day trading on Monday . The stock traded as high as $19.50 and last traded at $19.37. Approximately 1,263,337 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 6,204,195 shares. The stock had previously closed at $18.29.

Analysts Set New Price Targets

ZIM has been the topic of a number of recent research reports. Barclays lifted their target price on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research report on Monday, November 25th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Bank of America lifted their price objective on shares of 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. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.14.

ZIM Integrated Shipping Services Trading Up 5.0 %

The firm has a market capitalization of $2.59 billion, a P/E ratio of 1.80, a PEG ratio of 0.04 and a beta of 1.78. 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 50 day moving average of $22.34 and a 200-day moving average of $20.60.

ZIM Integrated Shipping Services Increases Dividend

The business 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 is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a dividend yield of 52.28%. The ex-dividend date of this dividend was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is 9.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in ZIM Integrated Shipping Services by 9.6% in the 2nd quarter. Van ECK Associates Corp now owns 37,488 shares of the company’s stock valued at $831,000 after buying an additional 3,296 shares during the period. nVerses Capital LLC acquired a new position in ZIM Integrated Shipping Services during the second quarter worth about $142,000. Rhumbline Advisers grew its holdings in shares of ZIM Integrated Shipping Services by 39.3% during the 2nd quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock valued at $260,000 after purchasing an additional 3,311 shares during the last quarter. PFG Investments LLC increased its position in ZIM Integrated Shipping Services by 35.5% during the 2nd quarter. PFG Investments LLC now owns 26,806 shares of the company’s stock worth $594,000 after purchasing an additional 7,017 shares in the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $380,000. Institutional investors and hedge funds 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.