ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Time to Buy?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up prior to trading on Thursday . The stock had previously closed at $16.52, but opened at $16.99. ZIM Integrated Shipping Services shares last traded at $17.10, with a volume of 1,053,536 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently commented on ZIM. Jefferies Financial Group dropped their price target on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, December 17th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Barclays reduced their price target on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Finally, Fearnley Fonds lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.04.

ZIM Integrated Shipping Services Price Performance

The firm’s 50 day moving average price is $20.44 and its two-hundred day moving average price is $20.45. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The stock has a market cap of $2.03 billion, a PE ratio of 1.41, a P/E/G ratio of 0.21 and a beta of 1.77.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a dividend of $2.81 per share. The ex-dividend date was Monday, December 2nd. This represents a $11.24 annualized dividend and a dividend yield of 66.55%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds have recently made changes to their positions in the stock. Fairman Group LLC purchased a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of ZIM Integrated Shipping Services in the third quarter worth $31,000. Northwestern Mutual Wealth Management Co. boosted its stake in ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after buying an additional 1,850 shares during the period. American Capital Advisory LLC bought a new stake in ZIM Integrated Shipping Services during the third quarter valued at $69,000. Finally, Sunbelt Securities Inc. bought a new position in ZIM Integrated Shipping Services in the 3rd quarter worth about $71,000. 21.42% 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.