ZIM Integrated Shipping Services (NYSE:ZIM) Given New $30.00 Price Target at The Goldman Sachs Group

ZIM Integrated Shipping Services (NYSE:ZIMGet Rating) had its price target cut by The Goldman Sachs Group from $60.00 to $30.00 in a research report sent to investors on Tuesday morning, The Fly reports.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group began coverage on shares of ZIM Integrated Shipping Services in a research report on Wednesday, July 20th. They issued a hold rating and a $55.00 price objective for the company. JPMorgan Chase & Co. raised shares of ZIM Integrated Shipping Services from an underweight rating to a neutral rating and upped their price target for the company from $43.60 to $53.30 in a research report on Friday, June 17th. Clarkson Capital reaffirmed a neutral rating on shares of ZIM Integrated Shipping Services in a report on Tuesday, June 14th. Citigroup lowered ZIM Integrated Shipping Services from a buy rating to a neutral rating in a research note on Monday, August 22nd. Finally, Bank of America cut ZIM Integrated Shipping Services from a buy rating to an underperform rating and reduced their price objective for the stock from $79.00 to $40.00 in a research note on Friday, July 1st. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $48.26.

ZIM Integrated Shipping Services Trading Up 0.2 %

ZIM opened at $28.80 on Tuesday. The company’s 50 day moving average price is $43.50 and its two-hundred day moving average price is $55.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.64 and a quick ratio of 1.57. ZIM Integrated Shipping Services has a fifty-two week low of $28.33 and a fifty-two week high of $91.23. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 0.56 and a beta of 2.43.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Monday, August 29th were issued a $4.75 dividend. The ex-dividend date of this dividend was Friday, August 26th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.85. This represents a $19.00 dividend on an annualized basis and a yield of 65.97%. ZIM Integrated Shipping Services’s dividend payout ratio is currently 36.83%.

Institutional Trading of ZIM Integrated Shipping Services

Several hedge funds have recently modified their holdings of the stock. Avantax Advisory Services Inc. acquired a new stake in ZIM Integrated Shipping Services in the 1st quarter worth about $271,000. DekaBank Deutsche Girozentrale acquired a new position in ZIM Integrated Shipping Services during the first quarter worth $586,000. New York State Common Retirement Fund raised its holdings in shares of ZIM Integrated Shipping Services by 0.7% in the first quarter. New York State Common Retirement Fund now owns 294,469 shares of the company’s stock valued at $21,411,000 after purchasing an additional 2,092 shares during the last quarter. IFG Advisory LLC grew its position in ZIM Integrated Shipping Services by 8.1% during the first quarter. IFG Advisory LLC now owns 31,989 shares of the company’s stock valued at $2,325,000 after buying an additional 2,388 shares during the period. Finally, PDT Partners LLC bought a new position in ZIM Integrated Shipping Services during the fourth quarter worth about $283,000. 42.82% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Company Profile

(Get Rating)

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.

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