MINISO Group (NYSE:MNSO) Upgraded at JPMorgan Chase & Co.

MINISO Group (NYSE:MNSO) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Tuesday,Benzinga reports. The firm presently has a $22.00 price objective on the stock, up from their prior price objective of $15.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 19.73% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Hsbc Global Res raised MINISO Group to a “strong-buy” rating in a research note on Wednesday, February 26th. HSBC assumed coverage on MINISO Group in a research report on Wednesday, February 26th. They set a “buy” rating and a $29.30 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.03.

MINISO Group Trading Down 3.0 %

MNSO stock opened at $18.38 on Tuesday. The firm’s fifty day simple moving average is $21.74 and its two-hundred day simple moving average is $20.50. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 0.80 and a beta of 0.10. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. MINISO Group has a twelve month low of $12.51 and a twelve month high of $27.71.

MINISO Group (NYSE:MNSO) last issued its quarterly earnings results on Friday, March 21st. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $2.61 by ($2.25). The firm had revenue of $646.49 million for the quarter, compared to the consensus estimate of $4.82 billion. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. As a group, analysts anticipate that MINISO Group will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On MINISO Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. KEYWISE CAPITAL MANAGEMENT HK Ltd grew its position in shares of MINISO Group by 76.6% during the 4th quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 9,201,950 shares of the company’s stock worth $219,835,000 after buying an additional 3,992,300 shares in the last quarter. HCEP Management Ltd bought a new position in MINISO Group during the 4th quarter worth about $40,613,000. Candriam S.C.A. purchased a new position in MINISO Group during the 4th quarter valued at about $9,986,000. Citigroup Inc. raised its holdings in shares of MINISO Group by 553.7% in the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock valued at $6,846,000 after purchasing an additional 330,579 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of MINISO Group in the 4th quarter worth approximately $3,780,000. 17.16% of the stock is owned by institutional investors.

About MINISO Group

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.