MINISO Group (NYSE:MNSO) Upgraded to “Strong-Buy” at Dbs Bank

MINISO Group (NYSE:MNSO) was upgraded by equities research analysts at Dbs Bank to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

Other equities analysts have also issued research reports about the company. Bank of America lowered MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 price target (down previously from $27.00) on shares of MINISO Group in a research report on Tuesday. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of MINISO Group in a research report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.00.

MINISO Group Price Performance

NYSE:MNSO opened at $14.01 on Tuesday. The business’s 50-day moving average price is $15.91 and its 200 day moving average price is $19.37. The firm has a market cap of $4.42 billion, a P/E ratio of 13.21, a PEG ratio of 0.56 and a beta of 0.17. MINISO Group has a 52-week low of $12.51 and a 52-week high of $28.28. The company has a quick ratio of 1.93, a current ratio of 2.38 and a debt-to-equity ratio of 0.15.

MINISO Group (NYSE:MNSO) last released its earnings results on Friday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter. MINISO Group had a return on equity of 26.41% and a net margin of 15.72%. The firm had revenue of $555.26 million for the quarter, compared to analyst estimates of $557.54 million. As a group, sell-side analysts predict that MINISO Group will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MINISO Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of MINISO Group by 5.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 379,100 shares of the company’s stock worth $7,229,000 after purchasing an additional 19,000 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of MINISO Group by 9.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,249 shares of the company’s stock worth $215,000 after purchasing an additional 942 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of MINISO Group during the 2nd quarter worth about $26,000. Point72 Asset Management L.P. raised its stake in shares of MINISO Group by 138.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock worth $21,229,000 after purchasing an additional 645,722 shares in the last quarter. Finally, Sylebra Capital LLC raised its stake in shares of MINISO Group by 96.3% during the 2nd quarter. Sylebra Capital LLC now owns 1,831,002 shares of the company’s stock worth $34,917,000 after purchasing an additional 898,373 shares in the last quarter. 17.16% of the stock is owned by hedge funds and other 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.