MINISO Group (NYSE:MNSO) Shares Up 8% – Still a Buy?

MINISO Group Holding Limited (NYSE:MNSO) rose 8% during trading on Wednesday . The company traded as high as $19.03 and last traded at $18.80. Approximately 291,770 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,834,471 shares. The stock had previously closed at $17.40.

Analysts Set New Price Targets

MNSO has been the subject of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $15.00 price target (down previously from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Citigroup began coverage on shares of MINISO Group in a research note on Friday, October 4th. They issued a “buy” rating and a $26.80 target price on the stock. Jefferies Financial Group reissued a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. Dbs Bank raised MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Bank of America lowered MINISO Group from a “buy” rating to an “underperform” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MINISO Group has an average rating of “Hold” and an average price target of $20.90.

MINISO Group Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.38 and a quick ratio of 1.93. The business’s 50 day moving average price is $17.79 and its 200 day moving average price is $18.32. The stock has a market capitalization of $5.82 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 0.69 and a beta of 0.15.

MINISO Group (NYSE:MNSO) last posted its earnings results on Friday, August 30th. The company reported $0.26 EPS for the quarter. The business had revenue of $555.26 million during the quarter, compared to the consensus estimate of $557.54 million. MINISO Group had a net margin of 15.72% and a return on equity of 26.41%. Sell-side analysts forecast that MINISO Group Holding Limited will post 1.23 EPS for the current year.

Institutional Trading of MINISO Group

Large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of MINISO Group during the 2nd quarter valued at about $26,000. Blue Trust Inc. grew its position in MINISO Group by 3,098.4% during the second quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock valued at $40,000 after buying an additional 1,890 shares during the period. FMR LLC increased its holdings in MINISO Group by 230.2% during the third quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after buying an additional 2,884 shares during the last quarter. Venturi Wealth Management LLC bought a new position in MINISO Group in the third quarter worth approximately $78,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of MINISO Group during the 2nd quarter worth $118,000. Institutional investors own 17.16% of the company’s stock.

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.