MINISO Group (NYSE:MNSO) Rating Lowered to "Neutral" at Citigroup

Key Points

• Citigroup downgraded MINISO Group from “Buy” to “Neutral” and set an $11.30 price target, implying approximately 9.4% upside from the current price.
• Analyst sentiment has weakened, with ratings spanning Buy to Sell; MarketBeat reports a consensus “Hold” rating and a consensus price target of $15.27.
• MINISO reported quarterly earnings of $0.26 per share on $855.25 million in revenue, while the stock opened at $10.33 and remains near its 52-week low of $10.01.

MINISO Group (NYSE:MNSO - Get Free Report) was downgraded by investment analysts at Citigroup from a "buy" rating to a "neutral" rating in a research note issued on Monday. They presently have a $11.30 target price on the stock. Citigroup's price target would indicate a potential upside of 9.39% from the company's current price.

Several other brokerages have also issued reports on MNSO. Weiss Ratings lowered shares of MINISO Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, June 25th. Wall Street Zen lowered shares of MINISO Group from a "buy" rating to a "hold" rating in a report on Saturday. JPMorgan Chase & Co. reduced their target price on MINISO Group from $26.00 to $16.00 and set an "overweight" rating for the company in a research note 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. Finally, HSBC reiterated a "hold" rating and issued a $10.80 price target on shares of MINISO Group in a report on Monday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, MINISO Group has a consensus rating of "Hold" and a consensus price target of $15.27.

MINISO Group Price Performance

MINISO Group stock opened at $10.33 on Monday. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.28 and a beta of 0.11. MINISO Group has a 52-week low of $10.01 and a 52-week high of $25.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.53. The firm has a 50 day moving average price of $11.91 and a two-hundred day moving average price of $14.32.

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

Institutional Investors Weigh In On MINISO Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. XY Capital Ltd bought a new stake in MINISO Group in the 1st quarter worth about $2,841,000. Hsbc Holdings PLC lifted its position in shares of MINISO Group by 243.5% during the 1st quarter. Hsbc Holdings PLC now owns 298,482 shares of the company's stock worth $4,844,000 after buying an additional 211,587 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of MINISO Group in the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of MINISO Group by 37.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company's stock valued at $41,000 after acquiring an additional 608 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of 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 acquiring an additional 1,947 shares during the last quarter. 17.16% of the stock is 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.

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