MINISO Group (NYSE:MNSO) Given New $16.00 Price Target at JPMorgan Chase & Co.

MINISO Group (NYSE:MNSO) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $26.00 to $16.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 21.51% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on MNSO. Zacks Research raised shares of MINISO Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MINISO Group in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, MINISO Group presently has an average rating of “Moderate Buy” and an average target price of $21.73.

MINISO Group Stock Up 4.8%

Shares of NYSE MNSO traded up $0.60 during mid-day trading on Friday, reaching $13.17. 284,037 shares of the company’s stock traded hands, compared to its average volume of 516,535. The stock has a market cap of $4.08 billion, a P/E ratio of 14.02, a PEG ratio of 1.18 and a beta of 0.14. The business has a 50-day simple moving average of $15.18 and a 200 day simple moving average of $17.82. MINISO Group has a 1-year low of $12.30 and a 1-year high of $26.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.66 and a quick ratio of 1.23.

MINISO Group (NYSE:MNSO) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.18). MINISO Group had a return on equity of 19.28% and a net margin of 9.03%.The firm had revenue of $825.04 million during the quarter, compared to the consensus estimate of $805.60 million. On average, analysts expect that MINISO Group will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Long Corridor Asset Management Ltd purchased a new position in MINISO Group in the third quarter valued at about $2,368,000. Fox Run Management L.L.C. purchased a new position in MINISO Group in the third quarter valued at about $1,275,000. WFM ASIA BVI Ltd purchased a new position in MINISO Group in the third quarter valued at about $35,624,000. Persistent Asset Partners Ltd purchased a new position in MINISO Group in the third quarter valued at about $948,000. Finally, Keystone Investors PTE Ltd. boosted its stake in MINISO Group by 32.2% in the third quarter. Keystone Investors PTE Ltd. now owns 192,100 shares of the company’s stock valued at $4,322,000 after acquiring an additional 46,800 shares during the last quarter. 17.16% of the stock is currently 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.