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

ZTO Express (Cayman) Inc. (NYSE:ZTO - Get Free Report)'s stock price 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 Upgrades and Downgrades

A number of brokerages have recently commented on ZTO. JPMorgan Chase & Co. raised shares of ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $23.00 to $21.00 in a research report on Thursday, May 29th. HSBC raised shares of ZTO Express (Cayman) from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a research report on Monday, April 14th. Citigroup reduced their target price 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. Bank of America lowered shares of ZTO Express (Cayman) from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $24.00 to $19.00 in a research report on Thursday, May 22nd. 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. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $21.76.

ZTO Express (Cayman) Price Performance

The company has a market capitalization of $11.18 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.83 and a beta of -0.18. The company's fifty day moving average is $17.83 and its 200-day moving average is $18.75.

Institutional Investors Weigh In On ZTO Express (Cayman)

Several institutional investors have recently bought and sold shares of ZTO. UMB Bank n.a. boosted its stake in ZTO Express (Cayman) by 106.4% in the first quarter. UMB Bank n.a. now owns 1,288 shares of the transportation company's stock valued at $26,000 after acquiring an additional 664 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in ZTO Express (Cayman) by 70.8% in the first quarter. First Horizon Advisors Inc. now owns 2,132 shares of the transportation company's stock valued at $42,000 after acquiring an additional 884 shares in the last quarter. Brooklyn Investment Group boosted its stake in ZTO Express (Cayman) by 443,600.0% in the first quarter. Brooklyn Investment Group now owns 4,437 shares of the transportation company's stock valued at $88,000 after acquiring an additional 4,436 shares in the last quarter. U S Global Investors Inc. boosted its stake in ZTO Express (Cayman) by 47.0% in the first quarter. U S Global Investors Inc. now owns 10,101 shares of the transportation company's stock valued at $200,000 after acquiring an additional 3,229 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in ZTO Express (Cayman) in the fourth quarter valued at approximately $231,000. 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.