ZTO Express (Cayman) (NYSE:ZTO) Price Target Raised to $22.00

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 - Free Report) had its price objective hoisted by Bank of America from $19.00 to $22.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the transportation company's stock.

Several other equities analysts have also recently commented on ZTO. Citigroup reduced their price target on shares of ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upgraded shares of ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $23.00 to $21.00 in a research report on Thursday, May 29th. Morgan Stanley set a $24.20 price target on shares of ZTO Express (Cayman) in a research report on Wednesday, July 2nd. Finally, Wall Street Zen lowered shares of ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $22.36.

ZTO Express (Cayman) Price Performance

ZTO stock traded down $0.1750 on Wednesday, hitting $18.9250. 891,874 shares of the company were exchanged, compared to its average volume of 2,544,277. ZTO Express has a twelve month low of $16.34 and a twelve month high of $27.50. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 12.32 and a beta of -0.18. The business's fifty day moving average is $18.90 and its two-hundred day moving average is $18.91.

ZTO Express (Cayman) Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.29 per share. This represents a yield of 330.0%. The ex-dividend date of this dividend is Tuesday, September 30th. ZTO Express (Cayman)'s dividend payout ratio (DPR) is currently 39.19%.

Hedge Funds Weigh In On ZTO Express (Cayman)

A number of large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ZTO Express (Cayman) by 6.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,212 shares of the transportation company's stock worth $242,000 after buying an additional 730 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of ZTO Express (Cayman) by 31.1% during the first quarter. Envestnet Asset Management Inc. now owns 577,800 shares of the transportation company's stock worth $11,464,000 after acquiring an additional 137,202 shares in the last quarter. Cerity Partners LLC increased its position in shares of ZTO Express (Cayman) by 30.6% during the first quarter. Cerity Partners LLC now owns 26,170 shares of the transportation company's stock worth $519,000 after acquiring an additional 6,135 shares in the last quarter. UMB Bank n.a. boosted its holdings in ZTO Express (Cayman) by 106.4% during the first quarter. UMB Bank n.a. now owns 1,288 shares of the transportation company's stock worth $26,000 after purchasing an additional 664 shares during the last quarter. Finally, TB Alternative Assets Ltd. acquired a new position in ZTO Express (Cayman) during the first quarter worth $1,640,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

ZTO Express (Cayman) Company Profile

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.