JPMorgan Chase & Co. Upgrades MINISO Group (NYSE:MNSO) to “Overweight”

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

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

MINISO Group Trading Down 3.0 %

MINISO Group stock opened at $18.38 on Tuesday. MINISO Group has a 12-month low of $12.51 and a 12-month high of $27.71. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.80 and a beta of 0.10. The firm has a 50 day moving average of $21.74 and a 200 day moving average of $20.50. 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 announced its quarterly earnings data on Friday, March 21st. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.61 by ($2.25). MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. The firm had revenue of $646.49 million during the quarter, compared to analysts’ expectations of $4.82 billion. As a group, research analysts predict that MINISO Group will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MNSO. EverSource Wealth Advisors LLC raised its stake in MINISO Group by 83.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company’s stock valued at $39,000 after purchasing an additional 734 shares in the last quarter. Northern Trust Corp increased its holdings in shares of MINISO Group by 3.3% in the 4th quarter. Northern Trust Corp now owns 24,232 shares of the company’s stock worth $579,000 after buying an additional 784 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MINISO Group by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 66,540 shares of the company’s stock valued at $1,167,000 after buying an additional 1,027 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of MINISO Group in the 4th quarter valued at about $31,000. Finally, Barclays PLC purchased a new position in MINISO Group in the fourth quarter worth about $36,000. 17.16% of the stock is currently 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.