ZTO Express (Cayman) (NYSE:ZTO) Shares Gap Down – Here’s What Happened

ZTO Express (Cayman) Inc. (NYSE:ZTO)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $19.66, but opened at $18.95. ZTO Express (Cayman) shares last traded at $18.93, with a volume of 268,393 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on ZTO shares. HSBC downgraded shares of ZTO Express (Cayman) from a “buy” rating to a “hold” rating and dropped their target price for the company from $28.00 to $20.00 in a research report on Tuesday, January 21st. Hsbc Global Res cut ZTO Express (Cayman) from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. started coverage on ZTO Express (Cayman) in a research report on Wednesday, October 30th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, StockNews.com raised ZTO Express (Cayman) from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.53.

ZTO Express (Cayman) Stock Down 3.5 %

The business’s fifty day moving average price is $19.07 and its 200 day moving average price is $20.96. The firm has a market capitalization of $11.47 billion, a PE ratio of 13.09, a PEG ratio of 0.96 and a beta of -0.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in ZTO Express (Cayman) in the third quarter valued at $26,000. Van ECK Associates Corp lifted its stake in shares of ZTO Express (Cayman) by 60.8% in the third quarter. Van ECK Associates Corp now owns 1,825 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 690 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ZTO Express (Cayman) in the third quarter valued at about $46,000. Blue Trust Inc. grew its position in ZTO Express (Cayman) by 210.0% during the third quarter. Blue Trust Inc. now owns 2,303 shares of the transportation company’s stock worth $57,000 after buying an additional 1,560 shares during the period. Finally, Confluence Investment Management LLC increased its holdings in ZTO Express (Cayman) by 14.8% in the fourth quarter. Confluence Investment Management LLC now owns 10,282 shares of the transportation company’s stock valued at $201,000 after buying an additional 1,326 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

About ZTO Express (Cayman)

ZTO Express (Cayman) Inc provides express delivery and other value-added logistics services in the People's Republic of China. It offers freight forwarding services; and delivery services for e-commerce and traditional merchants, and other express service users. The company was founded in 2002 and is headquartered in Shanghai, the People's Republic of China.