ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Down – Should You Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped down before the market opened on Tuesday . The stock had previously closed at $21.45, but opened at $20.75. ZIM Integrated Shipping Services shares last traded at $20.76, with a volume of 893,642 shares traded.

Analysts Set New Price Targets

Several research firms have weighed in on ZIM. Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Jefferies Financial Group cut their price objective on shares of 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 shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Barclays upped their target price on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research report on Monday, November 25th. Five investment 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.14.

ZIM Integrated Shipping Services Stock Down 4.0 %

The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 1.73, a P/E/G ratio of 0.04 and a beta of 1.77. 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 firm’s fifty day moving average is $22.15 and its two-hundred day moving average is $20.79.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a dividend of $2.81 per share. The ex-dividend date was Monday, December 2nd. This represents a $11.24 annualized dividend and a yield of 54.40%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently modified their holdings of the stock. Fairman Group LLC purchased a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $31,000. Northwestern Mutual Wealth Management Co. raised its holdings in 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 during the period. American Capital Advisory LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $69,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $71,000. 21.42% of the stock is owned by 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.