MINISO Group (NYSE:MNSO) Upgraded to "Buy" at 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 stock analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has a $26.20 price objective on the stock, up from their previous price objective of $18.50. Jefferies Financial Group's price objective would indicate a potential upside of 5.77% from the stock's previous close.

Several other brokerages have also issued reports on MNSO. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $20.00 target price on shares of MINISO Group in a research report on Tuesday, May 27th. Bank of America upgraded shares of MINISO Group from an "underperform" rating to a "neutral" rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $24.86.

MINISO Group Stock Performance

NYSE MNSO traded down $1.22 on Friday, hitting $24.77. 862,801 shares of the stock traded hands, compared to its average volume of 1,170,360. The business's fifty day moving average is $19.22 and its two-hundred day moving average is $19.01. MINISO Group has a 12 month low of $12.51 and a 12 month high of $27.71. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 1.63 and a beta of 0.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.54 and a current ratio of 1.92.

MINISO Group (NYSE:MNSO - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($1.52). The firm had revenue of $692.93 million for the quarter, compared to the consensus estimate of $4.85 billion. MINISO Group had a net margin of 12.63% and a return on equity of 22.60%. As a group, equities analysts anticipate that MINISO Group will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group raised its holdings in shares of MINISO Group by 579.4% during the 1st quarter. Brooklyn Investment Group now owns 1,651 shares of the company's stock worth $31,000 after acquiring an additional 1,408 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of MINISO Group by 141.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,933 shares of the company's stock valued at $35,000 after acquiring an additional 1,131 shares during the period. Barclays PLC acquired a new stake in MINISO Group during the 4th quarter worth about $36,000. Hantz Financial Services Inc. boosted its stake in shares of MINISO Group by 3,465.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,139 shares of the company's stock worth $39,000 after acquiring an additional 2,079 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in MINISO Group by 37.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company's stock worth $41,000 after purchasing an additional 608 shares in the last quarter. 17.16% of the stock is owned by hedge funds and other 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.