ZTO Express (Cayman) (NYSE:ZTO) Given New $22.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target for ZTO Express (Cayman) from $19.00 to $22.00, indicating a potential upside of 11.41% from the stock's previous close.
• Analysts currently have a consensus rating of "Buy" for ZTO Express, with an average price target of $22.36, while other firms have varying targets from $21.00 to $24.20.
• As of the recent report, institutional investors own approximately 41.65% of ZTO's stock, indicating strong interest from institutional stakeholders.

ZTO Express (Cayman) (NYSE:ZTO - Get Free Report) had its price objective boosted by research analysts at Bank of America from $19.00 to $22.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. Bank of America's price target would indicate a potential upside of 11.41% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley set a $24.20 price target on shares of ZTO Express (Cayman) in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. JPMorgan Chase & Co. upgraded shares of ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and cut their price target for the company from $23.00 to $21.00 in a research note on Thursday, May 29th. Finally, Citigroup cut their price target on shares of ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating for the company in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $22.36.

ZTO Express (Cayman) Price Performance

Shares of ZTO stock opened at $19.7470 on Wednesday. The stock has a market cap of $11.82 billion, a P/E ratio of 12.50, a P/E/G ratio of 3.06 and a beta of -0.18. The company has a fifty day moving average price of $18.81 and a two-hundred day moving average price of $18.90. ZTO Express has a one year low of $16.34 and a one year high of $27.50.

Institutional Investors Weigh In On ZTO Express (Cayman)

Several hedge funds and other institutional investors have recently made changes to their positions in ZTO. Todd Asset Management LLC grew its holdings in ZTO Express (Cayman) by 0.7% during the 1st quarter. Todd Asset Management LLC now owns 1,354,716 shares of the transportation company's stock worth $26,878,000 after acquiring an additional 9,133 shares during the last quarter. XY Capital Ltd lifted its position in shares of ZTO Express (Cayman) by 162.4% during the 1st quarter. XY Capital Ltd now owns 1,041,263 shares of the transportation company's stock valued at $20,659,000 after acquiring an additional 644,390 shares during the period. Mackenzie Financial Corp acquired a new position in ZTO Express (Cayman) during the second quarter worth $12,604,000. Canada Pension Plan Investment Board acquired a new position in ZTO Express (Cayman) during the first quarter worth $13,950,000. Finally, Hhlr Advisors LTD. raised its holdings in ZTO Express (Cayman) by 54.0% during the first quarter. Hhlr Advisors LTD. now owns 671,387 shares of the transportation company's stock worth $13,320,000 after buying an additional 235,460 shares during the last quarter. 41.65% of the stock is owned by institutional investors.

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.

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