MINISO Group (NYSE:MNSO) Upgraded by Hsbc Global Res to “Strong-Buy” Rating

MINISO Group (NYSE:MNSO) was upgraded by Hsbc Global Res to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, HSBC assumed coverage on shares of MINISO Group in a report on Wednesday. They issued a “buy” rating and a $29.30 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.70.

MINISO Group Stock Performance

MINISO Group stock opened at $20.80 on Wednesday. The stock’s 50 day simple moving average is $23.16 and its two-hundred day simple moving average is $19.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 0.80 and a beta of 0.07. MINISO Group has a fifty-two week low of $12.51 and a fifty-two week high of $27.71.

MINISO Group (NYSE:MNSO) last issued its quarterly earnings results on Friday, November 29th. The company reported $0.30 EPS for the quarter. MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. As a group, analysts expect that MINISO Group will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LMR Partners LLP purchased a new stake in shares of MINISO Group during the 3rd quarter valued at about $11,384,000. International Assets Investment Management LLC purchased a new stake in shares of MINISO Group during the 3rd quarter valued at about $923,000. Nordea Investment Management AB raised its position in shares of MINISO Group by 14.9% during the 4th quarter. Nordea Investment Management AB now owns 333,729 shares of the company’s stock valued at $8,020,000 after buying an additional 43,151 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of MINISO Group during the 3rd quarter valued at about $685,000. Finally, Citigroup Inc. raised its position in shares of MINISO Group by 553.7% during the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock valued at $6,846,000 after buying an additional 330,579 shares in the last quarter. 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.