MINISO Group (NYSE:MNSO) Stock Rating Upgraded by Jefferies Financial Group

Key Points

• MINISO Group has been upgraded by Jefferies Financial Group from a "hold" to a "buy" rating, with a new target price of $26.20, indicating a potential upside of 17.86% from its current price.
• Other analysts such as Bank of America and Deutsche Bank have also weighed in on MINISO Group, resulting in an average rating of "Buy" and a consensus target price of $24.86.
• Despite the positive ratings, MINISO Group reported earnings of only $0.22 per share for the last quarter, significantly below analysts' expectations of $1.74.

MINISO Group (NYSE:MNSO - Get Free Report) was upgraded by Jefferies Financial Group from a "hold" rating to a "buy" rating in a research note issued on Friday, MarketBeat reports. The brokerage currently has a $26.20 target price on the stock, up from their previous target price of $18.50. Jefferies Financial Group's price objective would indicate a potential downside of 1.74% from the company's previous close.

MNSO has been the topic of several other research reports. Bank of America upgraded shares of MINISO Group from an "underperform" rating to a "neutral" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $20.00 price target on shares of MINISO Group in a report on Tuesday, May 27th. Two 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 company's stock. Based on data from MarketBeat, MINISO Group has a consensus rating of "Buy" and a consensus price target of $24.86.

MINISO Group Trading Up 20.3%

NYSE:MNSO traded up $4.4930 during trading hours on Friday, reaching $26.6630. 6,837,621 shares of the company were exchanged, compared to its average volume of 1,136,508. 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 firm has a market cap of $8.28 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.69 and a beta of 0.16. MINISO Group has a 52-week low of $12.51 and a 52-week high of $27.71. The stock has a 50 day simple moving average of $18.91 and a 200 day simple moving average of $18.94.

MINISO Group (NYSE:MNSO - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $1.74 by ($1.52). The company had revenue of $692.93 million for the quarter, compared to analysts' expectations of $4.85 billion. MINISO Group had a return on equity of 22.99% and a net margin of 12.63%. As a group, analysts predict that MINISO Group will post 1.19 EPS for the current year.

Institutional Investors Weigh In On MINISO Group

Several hedge funds have recently modified their holdings of MNSO. KEYWISE CAPITAL MANAGEMENT HK Ltd raised its holdings in shares of MINISO Group by 76.6% during the 4th quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 9,201,950 shares of the company's stock valued at $219,835,000 after buying an additional 3,992,300 shares during the period. Marshall Wace LLP increased its position in shares of MINISO Group by 131.1% in the 2nd quarter. Marshall Wace LLP now owns 1,776,960 shares of the company's stock worth $32,376,000 after purchasing an additional 1,008,048 shares during the last quarter. Serenity Capital Management PTE. LTD. increased its position in shares of 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 worth $21,093,000 after purchasing an additional 694,212 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of MINISO Group in the 2nd quarter worth about $3,803,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of MINISO Group in the 4th quarter worth about $3,780,000. 17.16% of the stock is currently 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.