ZTO Express (Cayman) (NYSE:ZTO) Shares Down 3% – Here’s Why

Shares of ZTO Express (Cayman) Inc. (NYSE:ZTO) dropped 3% on Thursday . The stock traded as low as $18.89 and last traded at $18.96. Approximately 387,613 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,418,960 shares. The stock had previously closed at $19.55.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZTO. JPMorgan Chase & Co. began coverage on shares of ZTO Express (Cayman) in a report on Wednesday, October 30th. They issued an “overweight” rating and a $30.00 target price on the stock. StockNews.com upgraded shares of ZTO Express (Cayman) from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.03.

ZTO Express (Cayman) Trading Down 3.2 %

The company has a market cap of $11.44 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.98 and a beta of -0.13. The stock’s 50 day moving average price is $20.51 and its 200 day moving average price is $21.30.

Institutional Trading of ZTO Express (Cayman)

A number of institutional investors and hedge funds have recently made changes to their positions in ZTO. Point72 DIFC Ltd acquired a new position in ZTO Express (Cayman) in the third quarter valued at $26,000. Van ECK Associates Corp grew its holdings in shares of ZTO Express (Cayman) by 60.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,825 shares of the transportation company’s stock worth $46,000 after purchasing an additional 690 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in ZTO Express (Cayman) during the 3rd quarter worth approximately $46,000. Blue Trust Inc. increased its position in ZTO Express (Cayman) by 210.0% during the 3rd quarter. Blue Trust Inc. now owns 2,303 shares of the transportation company’s stock worth $57,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new position in ZTO Express (Cayman) during the third quarter valued at approximately $222,000. 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.