ZIM Integrated Shipping Services (NYSE:ZIM) Given New $16.00 Price Target at Barclays

ZIM Integrated Shipping Services (NYSE:ZIM) had its price objective cut by Barclays from $16.50 to $16.00 in a report published on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other research analysts have also commented on ZIM. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Jefferies Financial Group decreased their price target on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday, December 17th. Finally, Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.04.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM stock opened at $19.19 on Friday. The company’s 50 day moving average is $21.98 and its 200 day moving average is $20.78. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 1.61, a PEG ratio of 0.04 and a beta of 1.77. ZIM Integrated Shipping Services has a 52-week low of $9.08 and a 52-week high of $30.15.

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. This represents a $11.24 annualized dividend and a yield of 58.57%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently made changes to their positions in ZIM. Fairman Group LLC purchased a new position in ZIM Integrated Shipping Services in the 3rd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the third quarter worth about $31,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 worth $43,000 after purchasing an additional 1,850 shares during the period. American Capital Advisory LLC acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $69,000. Finally, Sunbelt Securities Inc. acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $71,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.