ZIM Integrated Shipping Services (NYSE:ZIM) Downgraded to Strong Sell Rating by Fearnley Fonds

Fearnley Fonds lowered shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a hold rating to a strong sell rating in a research report released on Thursday morning,Zacks.com reports.

A number of other analysts have also issued reports on the company. Jefferies Financial Group restated a “hold” rating and issued a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Bank of America raised their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Barclays upped their target price on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Stock Down 1.9 %

ZIM stock opened at $23.78 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 0.97. The firm has a market capitalization of $2.86 billion, a P/E ratio of 1.99, a P/E/G ratio of 0.04 and a beta of 1.88. ZIM Integrated Shipping Services has a 52-week low of $6.39 and a 52-week high of $30.15. The company’s 50 day simple moving average is $22.78 and its 200-day simple moving average is $20.56.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a dividend of $2.81 per share. The ex-dividend date is Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 47.27%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fairman Group LLC acquired a new position in ZIM Integrated Shipping Services in the third quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after acquiring an additional 1,850 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of ZIM Integrated Shipping Services by 1,431.1% in the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after acquiring an additional 5,667 shares in the last quarter. Finally, American Capital Advisory LLC bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter worth approximately $69,000. Institutional investors own 21.42% 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.