ZIM Integrated Shipping Services (NYSE:ZIM) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of ZIM Integrated Shipping Services (NYSE:ZIM) from an overweight rating to a neutral rating in a report released on Friday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $6.20 price target on the stock, down from their prior price target of $14.00.

Several other analysts also recently weighed in on the stock. Barclays lowered their target price on shares of ZIM Integrated Shipping Services from $10.60 to $9.50 and set an underweight rating on the stock in a report on Friday, September 29th. Jefferies Financial Group lowered their target price on shares of ZIM Integrated Shipping Services from $11.00 to $8.00 and set a hold rating on the stock in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $7.90.

ZIM Integrated Shipping Services Trading Down 7.9 %

Shares of ZIM Integrated Shipping Services stock opened at $7.02 on Friday. ZIM Integrated Shipping Services has a 1 year low of $6.77 and a 1 year high of $26.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.08 and a current ratio of 1.15. The company has a market capitalization of $843.09 million, a P/E ratio of -0.40 and a beta of 2.20. The company’s fifty day moving average is $9.20 and its two-hundred day moving average is $12.11.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of ZIM. Renaissance Technologies LLC grew its holdings in ZIM Integrated Shipping Services by 166.9% in the first quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock valued at $295,387,000 after purchasing an additional 2,540,500 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in ZIM Integrated Shipping Services by 25.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,011,500 shares of the company’s stock valued at $94,591,000 after purchasing an additional 804,958 shares during the period. BlackRock Inc. grew its holdings in ZIM Integrated Shipping Services by 2.9% in the third quarter. BlackRock Inc. now owns 3,361,309 shares of the company’s stock valued at $78,990,000 after purchasing an additional 95,106 shares during the period. Menora Mivtachim Holdings LTD. grew its holdings in ZIM Integrated Shipping Services by 35.9% in the second quarter. Menora Mivtachim Holdings LTD. now owns 2,691,036 shares of the company’s stock valued at $33,342,000 after purchasing an additional 710,463 shares during the period. Finally, State Street Corp grew its holdings in ZIM Integrated Shipping Services by 8.7% in the third quarter. State Street Corp now owns 1,338,765 shares of the company’s stock valued at $31,461,000 after purchasing an additional 107,225 shares during the period. 17.62% of the stock is currently 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.