HSBC Reaffirms Hold Rating for MINISO Group (NYSE:MNSO)

Key Points

• HSBC reaffirmed its “Hold” rating on MINISO Group, maintaining a $10.80 price target—representing approximately 4.55% potential upside from the stock’s $10.33 price.
• Analyst sentiment remains mixed, with two Buy, two Hold and one Sell rating; MarketBeat reports a consensus “Hold” rating and an average price target of $16.60.
• MINISO reported quarterly earnings of $0.26 per share on $855.25 million in revenue, while the stock remains near its one-year low of $10.01 and below its 50-day and 200-day moving averages.

MINISO Group (NYSE:MNSO - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at HSBC in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $10.80 price objective on the stock. HSBC's target price would indicate a potential upside of 4.55% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of MINISO Group from $26.00 to $16.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. Zacks Research raised MINISO Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Weiss Ratings downgraded shares of MINISO Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, June 25th. Finally, Wall Street Zen lowered shares of MINISO Group from a "buy" rating to a "hold" rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $16.60.

MINISO Group Price Performance

MNSO stock opened at $10.33 on Monday. MINISO Group has a one year low of $10.01 and a one year high of $25.92. The firm has a 50-day moving average of $11.91 and a two-hundred day moving average of $14.32. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $3.20 billion, a PE ratio of 17.81, a P/E/G ratio of 1.28 and a beta of 0.11.

MINISO Group (NYSE:MNSO - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.26 EPS for the quarter. The firm had revenue of $855.25 million during the quarter. MINISO Group had a net margin of 5.32% and a return on equity of 19.40%. On average, analysts forecast that MINISO Group will post 1.12 earnings per share for the current year.

Institutional Trading of MINISO Group

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in MINISO Group during the third quarter valued at approximately $25,000. Parallel Advisors LLC lifted its position in shares of MINISO Group by 794.7% during the 1st quarter. Parallel Advisors LLC now owns 2,192 shares of the company's stock worth $36,000 after buying an additional 1,947 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of MINISO Group by 37.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company's stock worth $41,000 after buying an additional 608 shares during the period. PNC Financial Services Group Inc. boosted 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 valued at $56,000 after buying an additional 547 shares in the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in MINISO Group in the 4th quarter valued at $126,000. 17.16% of the stock is currently owned by institutional investors and hedge funds.

About MINISO Group

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.

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