MINISO Group (NYSE:MNSO) Downgraded by Citigroup to “Neutral”

MINISO Group (NYSE:MNSO) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a report issued on Monday. They presently have a $11.30 price target on the stock. Citigroup’s price target points to a potential upside of 9.39% from the stock’s current price.

Several other research analysts also recently commented on MNSO. JPMorgan Chase & Co. cut their price objective on shares of MINISO Group from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Zacks Research raised shares of MINISO Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings downgraded MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. Wall Street Zen cut MINISO Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, HSBC reiterated a “hold” rating and set a $10.80 price objective on shares of MINISO Group in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.27.

MINISO Group Stock Performance

Shares of MNSO stock opened at $10.33 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.76. The firm has a market cap of $3.20 billion, a P/E ratio of 17.81, a PEG ratio of 1.28 and a beta of 0.11. The company has a 50 day moving average of $11.91 and a 200-day moving average of $14.32. MINISO Group has a 12-month low of $10.01 and a 12-month high of $25.92.

MINISO Group (NYSE:MNSO) last issued its earnings results on Friday, August 14th. The company reported $0.26 earnings per share (EPS) for the quarter. MINISO Group had a return on equity of 19.40% and a net margin of 5.32%.The firm had revenue of $855.25 million for the quarter. Sell-side analysts anticipate that MINISO Group will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of MINISO Group in the third quarter worth $25,000. Parallel Advisors LLC boosted its stake in MINISO Group by 794.7% during the first quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock valued at $36,000 after buying an additional 1,947 shares during the period. EverSource Wealth Advisors LLC boosted its stake in MINISO Group by 37.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock valued at $41,000 after buying an additional 608 shares during the period. PNC Financial Services Group Inc. increased its stake in MINISO Group by 28.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company’s stock worth $56,000 after acquiring an additional 547 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of MINISO Group in the 4th quarter valued at about $126,000. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

MINISO Group Company Profile

MINISO Group (NYSE: MNSO) is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO’s stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company’s product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.