ZIM Integrated Shipping Services (NYSE: ZIM) has received an upgrade in its stock rating from a “strong sell” to a “hold” by analysts at Fearnley Fonds, according to a research note released on Friday. This shift reflects a broader reassessment of the company’s market position, following various analyst reports on the stock.
Analysts from Weiss Ratings reaffirmed a “hold (c)” rating on ZIM shares in a report dated October 8, 2023. Meanwhile, Barclays adjusted their target price for ZIM from $13.30 to $13.70, maintaining an “underweight” rating. In contrast, JPMorgan Chase & Co. reduced their target price from $9.70 to $8.70, also assigning an “underweight” rating to the company. Jefferies Financial Group raised their price target from $15.00 to $20.00 while maintaining a “hold” stance. UBS Group set a target of $9.70 in a report dated November 24, 2023.
As it stands, four analysts have rated ZIM with a “hold” designation while an equal number have assigned a “sell” rating. According to data from MarketBeat.com, ZIM currently holds an average rating of “Reduce” with a target price of $14.15.
Recent Earnings and Financial Performance
ZIM Integrated Shipping Services recently announced its quarterly earnings on November 20, 2023. The company reported earnings per share (EPS) of $1.02, falling short of the consensus estimate of $1.67 by $0.65. The firm recorded revenues of $1.78 billion, slightly surpassing the expected $1.74 billion. ZIM’s return on equity was 25.18%, with a net margin of 13.22%. Looking ahead, analysts predict that ZIM will post an EPS of 16.75 for the current fiscal year.
Institutional Investments in ZIM
Recent trading activity indicates varied interest from institutional investors regarding ZIM Integrated Shipping Services. Legacy Investment Solutions LLC initiated a new position in ZIM during the second quarter, valued at approximately $26,000. Edmond DE Rothschild Holding S.A. also acquired a new stake worth about $37,000 during the same period. Quarry LP entered the scene with a new investment valued at around $34,000 in the third quarter.
Further bolstering this trend, Larson Financial Group LLC increased its holdings in ZIM by 158.8%, owning 3,256 shares worth approximately $44,000 after purchasing an additional 1,998 shares. Triumph Capital Management also secured a new position in ZIM valued at about $44,000. Currently, institutional investors and hedge funds hold 21.42% of ZIM’s stock.
ZIM Integrated Shipping Services, based in Haifa, Israel, specializes in the global transportation of dry cargo, refrigerated goods, and special project cargo. Founded in 1945, the company has developed a modern fleet of container vessels and operates scheduled liner services worldwide. Through strategic partnerships and fleet expansions, ZIM has transformed from a regional carrier to a significant player in the global shipping industry.
