Investing

JP Morgan Maintains Zim Integrated Shipping Services Neutral Recommendation

George Maybach

Published: July 3, 2023 10:27 pm

Fintel reports that on July 3, 2023, JP Morgan maintained coverage of Zim Integrated Shipping Services (NYSE:ZIM) with a Neutral recommendation.

Analyst Price Forecast Suggests 42.70% Upside

As of June 2, 2023, the average one-year price target for Zim Integrated Shipping Services is 17.68. The forecasts range from a low of 10.10 to a high of $28.35. The average price target represents an increase of 42.70% from its latest reported closing price of 12.39.

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The projected annual revenue for Zim Integrated Shipping Services is 6,820MM, a decrease of 33.26%. The projected annual non-GAAP EPS is 2.92.

What is the Fund Sentiment?

There are 394 funds or institutions reporting positions in Zim Integrated Shipping Services. This is a decrease of 12 owner(s) or 2.96% in the last quarter. Average portfolio weight of all funds dedicated to ZIM is 0.11%, an increase of 22.44%. Total shares owned by institutions decreased in the last three months by 30.66% to 27,133K shares. The put/call ratio of ZIM is 1.01, indicating a bearish outlook.

What are Other Shareholders Doing?

Arrowstreet Capital, Limited Partnership holds 4,012K shares representing 3.34% ownership of the company. In it’s prior filing, the firm reported owning 3,207K shares, representing an increase of 20.07%. The firm increased its portfolio allocation in ZIM by 58.71% over the last quarter.

Menora Mivtachim Holdings holds 1,981K shares representing 1.65% ownership of the company. No change in the last quarter.

Renaissance Technologies holds 1,802K shares representing 1.50% ownership of the company. In it’s prior filing, the firm reported owning 2,751K shares, representing a decrease of 52.68%. The firm decreased its portfolio allocation in ZIM by 12.86% over the last quarter.

Goldman Sachs Group holds 1,325K shares representing 1.10% ownership of the company. In it’s prior filing, the firm reported owning 655K shares, representing an increase of 50.57%. The firm increased its portfolio allocation in ZIM by 164.64% over the last quarter.

Mackenzie Financial holds 1,283K shares representing 1.07% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Zim Integrated Shipping Services Background Information
(This description is provided by the company.)

ZIM Integrated Shipping Services Ltd. is a global, asset-light container liner shipping company with leadership positions in the markets where it operates. Founded in Israelin 1945, ZIM is one of the oldest shipping liners, with over 75 years of experience, providing customers with innovative seaborne transportation and logistics services with a reputation for industry leading transit times,

This article originally appeared on Fintel