ZTO Express (Cayman) (NYSE:ZTO) Shares Gap Up - Here's What Happened

ZTO Express (Cayman) Inc. (NYSE:ZTO - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $17.70, but opened at $18.91. ZTO Express (Cayman) shares last traded at $19.22, with a volume of 782,182 shares traded.

Analyst Ratings Changes

ZTO has been the topic of several research analyst reports. HSBC raised ZTO Express (Cayman) from a "hold" rating to a "buy" rating and set a $22.00 price target on the stock in a research report on Monday, April 14th. Citigroup dropped their price objective on ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Hsbc Global Res raised ZTO Express (Cayman) from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. JPMorgan Chase & Co. raised ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $23.00 to $21.00 in a report on Thursday, May 29th. Finally, Wall Street Zen lowered ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.76.

ZTO Express (Cayman) Price Performance

The company has a 50-day moving average price of $17.84 and a 200-day moving average price of $18.77. The firm has a market capitalization of $11.18 billion, a PE ratio of 11.83, a P/E/G ratio of 2.68 and a beta of -0.18.

Institutional Trading of ZTO Express (Cayman)

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its position 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 buying an additional 664 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in ZTO Express (Cayman) by 6.4% in the 1st 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. First Horizon Advisors Inc. lifted its stake in shares of ZTO Express (Cayman) by 70.8% in the 1st quarter. First Horizon Advisors Inc. now owns 2,132 shares of the transportation company's stock valued at $42,000 after purchasing an additional 884 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of ZTO Express (Cayman) by 1.4% in the 4th quarter. Natixis Advisors LLC now owns 64,943 shares of the transportation company's stock valued at $1,270,000 after purchasing an additional 918 shares in the last quarter. Finally, Fox Run Management L.L.C. lifted its stake in shares of ZTO Express (Cayman) by 7.5% in the 4th quarter. Fox Run Management L.L.C. now owns 14,069 shares of the transportation company's stock valued at $275,000 after purchasing an additional 980 shares in the last quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

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.