ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 7.2%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares fell 7.2% on Monday . The stock traded as low as $11.11 and last traded at $11.14. 2,889,023 shares were traded during trading, a decline of 66% from the average session volume of 8,475,364 shares. The stock had previously closed at $12.01.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ZIM shares. Bank of America upped their price objective on shares of ZIM Integrated Shipping Services from $6.40 to $10.50 and gave the stock an “underperform” rating in a research report on Thursday, January 4th. Barclays decreased their target price on ZIM Integrated Shipping Services from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Tuesday, December 5th. Jefferies Financial Group upgraded ZIM Integrated Shipping Services from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $20.00 in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. downgraded ZIM Integrated Shipping Services from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $6.20 in a report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.43.

ZIM Integrated Shipping Services Trading Up 3.3 %

The company has a market cap of $1.34 billion, a PE ratio of -0.61 and a beta of 1.89. The stock has a fifty day moving average of $12.67 and a 200-day moving average of $10.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.98 and a current ratio of 1.04.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in ZIM Integrated Shipping Services by 166.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock worth $295,387,000 after buying an additional 2,540,500 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in ZIM Integrated Shipping Services by 25.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,011,500 shares of the company’s stock valued at $94,591,000 after buying an additional 804,958 shares during the last quarter. BlackRock Inc. lifted its stake in shares of ZIM Integrated Shipping Services by 2.9% during the 3rd quarter. BlackRock Inc. now owns 3,361,309 shares of the company’s stock worth $78,990,000 after purchasing an additional 95,106 shares during the period. State Street Corp lifted its stake in shares of ZIM Integrated Shipping Services by 8.7% during the 3rd quarter. State Street Corp now owns 1,338,765 shares of the company’s stock worth $31,461,000 after purchasing an additional 107,225 shares during the period. Finally, Morgan Stanley raised its position in shares of ZIM Integrated Shipping Services by 75.1% in the 4th quarter. Morgan Stanley now owns 1,118,732 shares of the company’s stock worth $19,231,000 after buying an additional 479,888 shares during the period. Institutional investors and hedge funds own 17.62% 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.