MINISO Group (NYSE:MNSO) Raised to Overweight at JPMorgan Chase & Co.

MINISO Group (NYSE:MNSO) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently 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 17.43% from the stock’s previous close.

A number of other brokerages have also recently issued reports on MNSO. HSBC initiated coverage on MINISO Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 target price on the stock. Hsbc Global Res raised shares of MINISO Group to a “strong-buy” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.03.

MINISO Group Trading Up 2.7 %

NYSE:MNSO opened at $18.74 on Tuesday. The firm has a fifty day simple moving average of $21.56 and a two-hundred day simple moving average of $20.50. MINISO Group has a 12 month low of $12.51 and a 12 month high of $27.71. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.80 and a beta of 0.10. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17.

MINISO Group (NYSE:MNSO) last issued its 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 during the quarter, compared to analyst estimates of $4.82 billion. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. Analysts expect that MINISO Group will post 1.19 EPS for the current fiscal year.

Institutional Trading of MINISO Group

Several institutional investors have recently made changes to their positions in MNSO. KEYWISE CAPITAL MANAGEMENT HK Ltd boosted its holdings in MINISO Group by 76.6% during the fourth quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 9,201,950 shares of the company’s stock worth $219,835,000 after purchasing an additional 3,992,300 shares during the last quarter. HCEP Management Ltd bought a new position in shares of MINISO Group during the 4th quarter worth approximately $40,613,000. Candriam S.C.A. purchased a new position in shares of MINISO Group in the 4th quarter worth approximately $9,986,000. Citigroup Inc. grew its holdings in shares of MINISO Group by 553.7% in the third quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock valued at $6,846,000 after acquiring an additional 330,579 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of MINISO Group during the fourth quarter valued at approximately $3,780,000. Institutional investors own 17.16% of the company’s stock.

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.