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

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

A number of other brokerages have also recently weighed in on ZIM. Barclays dropped 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 dropped 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 given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $7.90.

ZIM Integrated Shipping Services Stock Down 7.9 %

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

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently modified their holdings of the company. Toroso Investments LLC grew its position in shares of ZIM Integrated Shipping Services by 7.0% during the third quarter. Toroso Investments LLC now owns 23,902 shares of the company’s stock worth $250,000 after acquiring an additional 1,558 shares during the last quarter. GSA Capital Partners LLP bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at about $152,000. Legal & General Group Plc grew its position in ZIM Integrated Shipping Services by 4.9% in the 3rd quarter. Legal & General Group Plc now owns 96,447 shares of the company’s stock valued at $1,008,000 after buying an additional 4,472 shares in the last quarter. AXQ Capital LP bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at about $358,000. Finally, Bluefin Capital Management LLC bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at about $340,000. Institutional investors own 17.62% 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.