Bank of America Upgrades MINISO Group (NYSE:MNSO) to Neutral

MINISO Group (NYSE:MNSO) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report released on Thursday, Marketbeat reports.

Separately, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $20.00 price objective on shares of MINISO Group in a research note on Tuesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, MINISO Group presently has a consensus rating of “Buy” and an average target price of $24.86.

MINISO Group Trading Up 20.3%

MINISO Group stock opened at $26.6630 on Thursday. The firm has a 50-day moving average of $18.91 and a 200-day moving average of $18.99. MINISO Group has a one year low of $12.51 and a one year high of $27.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.99 and a quick ratio of 1.54. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 1.30 and a beta of 0.16.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings data on Thursday, August 21st. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($1.52). MINISO Group had a return on equity of 22.99% and a net margin of 12.63%.The business had revenue of $692.93 million for the quarter, compared to analyst estimates of $4.85 billion. On average, equities analysts expect that MINISO Group will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vident Advisory LLC raised its holdings in MINISO Group by 18.0% in the 2nd quarter. Vident Advisory LLC now owns 29,127 shares of the company’s stock valued at $531,000 after acquiring an additional 4,447 shares during the period. Balyasny Asset Management L.P. bought a new position in MINISO Group in the 2nd quarter valued at about $3,803,000. Quantinno Capital Management LP raised its holdings in MINISO Group by 72.8% in the 2nd quarter. Quantinno Capital Management LP now owns 34,806 shares of the company’s stock valued at $634,000 after acquiring an additional 14,665 shares during the period. Marshall Wace LLP raised its holdings in MINISO Group by 131.1% in the 2nd quarter. Marshall Wace LLP now owns 1,776,960 shares of the company’s stock valued at $32,376,000 after acquiring an additional 1,008,048 shares during the period. Finally, Serenity Capital Management PTE. LTD. raised its holdings in MINISO Group by 149.8% in the 2nd quarter. Serenity Capital Management PTE. LTD. now owns 1,157,662 shares of the company’s stock valued at $21,093,000 after acquiring an additional 694,212 shares during the period. 17.16% of the stock is owned by institutional investors.

MINISO Group Company Profile

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.