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

ZTO Express (Cayman) Inc. (NYSE:ZTO)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $20.78, but opened at $19.96. ZTO Express (Cayman) shares last traded at $19.79, with a volume of 706,908 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ZTO. StockNews.com upgraded ZTO Express (Cayman) from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. HSBC cut shares of ZTO Express (Cayman) from a “buy” rating to a “hold” rating and decreased their price objective 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 note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. started coverage on ZTO Express (Cayman) in a research note on Wednesday, October 30th. They set an “overweight” rating and a $30.00 price objective for the company. Three 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 presently has an average rating of “Moderate Buy” and an average target price of $24.53.

ZTO Express (Cayman) Stock Performance

The stock has a fifty day moving average price of $19.27 and a two-hundred day moving average price of $21.02. The firm has a market capitalization of $11.77 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.03 and a beta of -0.16.

Hedge Funds Weigh In On ZTO Express (Cayman)

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its position in ZTO Express (Cayman) by 10.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 209,907 shares of the transportation company’s stock worth $4,104,000 after purchasing an additional 19,329 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in ZTO Express (Cayman) during the fourth quarter worth about $246,000. Voloridge Investment Management LLC bought a new stake in ZTO Express (Cayman) in the fourth quarter worth about $10,802,000. Quantinno Capital Management LP boosted its position in shares of ZTO Express (Cayman) by 20.5% during the 4th quarter. Quantinno Capital Management LP now owns 18,444 shares of the transportation company’s stock valued at $361,000 after purchasing an additional 3,133 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of ZTO Express (Cayman) in the 4th quarter worth approximately $231,000. 41.65% of the stock is owned by 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.