ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Raised to $16.50

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective increased by Barclays from $13.90 to $16.50 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other research analysts also recently weighed in on the stock. Bank of America upped their target price 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. reaffirmed an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group reaffirmed 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, one has issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.74.

ZIM Integrated Shipping Services Trading Up 4.8 %

Shares of ZIM stock opened at $22.11 on Monday. ZIM Integrated Shipping Services has a 1 year low of $6.39 and a 1 year high of $30.15. The firm has a fifty day moving average price of $22.94 and a 200-day moving average price of $20.64. 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 company has a market cap of $2.66 billion, a price-to-earnings ratio of 1.85, a PEG ratio of 0.05 and a beta of 1.88.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $2.81 per share. This represents a $11.24 annualized dividend and a dividend yield of 50.85%. The ex-dividend date is Monday, December 2nd. 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 9.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in ZIM Integrated Shipping Services by 479.9% during the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after purchasing an additional 2,181,000 shares during the period. Marshall Wace LLP raised its position in ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after purchasing an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC purchased a new stake in ZIM Integrated Shipping Services during the second quarter valued at approximately $14,383,000. International Assets Investment Management LLC raised its position 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 valued at $10,337,000 after purchasing an additional 385,562 shares during the period. Finally, Quantbot Technologies LP raised its position 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 valued at $9,506,000 after purchasing an additional 366,647 shares during the period. Institutional investors own 21.42% of the company’s stock.

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.