ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Time to Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped down before the market opened on Friday . The stock had previously closed at $16.62, but opened at $15.99. ZIM Integrated Shipping Services shares last traded at $16.47, with a volume of 2,620,988 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Barclays dropped their price objective on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group reduced their price objective on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, December 17th. Finally, Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.04.

ZIM Integrated Shipping Services Stock Performance

The firm’s 50-day simple moving average is $21.43 and its two-hundred day simple moving average is $20.67. The company has a market cap of $1.98 billion, a PE ratio of 1.38, a P/E/G ratio of 0.22 and a beta of 1.77. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a dividend of $2.81 per share. The ex-dividend date was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 68.18%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in shares of ZIM Integrated Shipping Services by 59.4% during the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock worth $46,482,000 after purchasing an additional 674,723 shares during the last quarter. International Assets Investment Management LLC grew its holdings 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 during the period. Y Intercept Hong Kong Ltd acquired a new position in ZIM Integrated Shipping Services in the third quarter valued at approximately $2,612,000. Blueshift Asset Management LLC purchased a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $620,000. Finally, Quantbot Technologies LP grew its stake in shares of ZIM Integrated Shipping Services by 9,573.0% during the 3rd quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after purchasing an additional 366,647 shares during the period. 21.42% of the stock is currently 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.