ZIM Integrated Shipping Services (NYSE:ZIM) Raised to “Strong-Buy” at Zacks Investment Research

ZIM Integrated Shipping Services (NYSE:ZIM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a $43.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 17.91% from the company’s current price.

According to Zacks, “ZIM Integrated Shipping Services Ltd. provides container shipping and related services, along with its subsidiaries. The company offers dry, reefer, project, out of gauge, breakbulk and dangerous cargo services; inland transport services. ZIM Integrated Shipping Services Ltd. is based in Haifa, Israel. “

Several other equities analysts have also commented on the company. The Goldman Sachs Group assumed coverage on ZIM Integrated Shipping Services in a report on Monday, February 22nd. They issued a “neutral” rating on the stock. Clarkson Capital raised their price objective on ZIM Integrated Shipping Services from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, March 22nd. Jefferies Financial Group raised their price objective on ZIM Integrated Shipping Services from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, March 29th. Barclays began coverage on ZIM Integrated Shipping Services in a report on Monday, March 1st. They set an “equal weight” rating and a $20.00 price objective on the stock. Finally, Citigroup began coverage on ZIM Integrated Shipping Services in a report on Tuesday, February 23rd. They set a “buy” rating and a $28.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. ZIM Integrated Shipping Services has a consensus rating of “Buy” and an average target price of $32.80.

NYSE:ZIM traded down $1.97 during trading hours on Tuesday, hitting $36.47. 28,102 shares of the stock were exchanged, compared to its average volume of 888,559. ZIM Integrated Shipping Services has a 52-week low of $11.34 and a 52-week high of $40.00. The business’s fifty day simple moving average is $29.07.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Sunday, March 21st. The company reported $3.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.72 by ($0.24). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.10 billion.

An institutional investor recently bought a new position in ZIM Integrated Shipping Services stock. Signaturefd LLC purchased a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,000 shares of the company’s stock, valued at approximately $49,000.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. The company offers dry, reefer, project, out of gauge, breakbulk, and dangerous cargo services; inland transport services; and ZIMonitor, a reefer cargo tracking service.

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Analyst Recommendations for ZIM Integrated Shipping Services (NYSE:ZIM)

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