MYT Netherlands Parent BV (NYSE: MYTE) rating is increased to buy from Zacks Investment Research
MYT Netherlands Parent BV (NYSE: MYTE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released Thursday, Zacks.com reports. The company currently has a target price of $ 35.00 on the stock. Zacks Investment Research’s price target would point to a potential rise of 16.74% from the current share price.
According to Zacks, âMYT Netherlands Parent BV is an online luxury fashion retailer. The company offers ready-to-wear, shoes, bags and accessories for women, men and children. She focuses on true luxury with designer brands such as Bottega. Veneta, Burberry, Dolce & Gabbana, Fendi, Gucci, LOEWE, Loro Piana, Moncler, Prada, Saint Laurent, Valentino and many more. The company deals with high-end luxury buyers, exclusive product and content offerings. based in MUNICH. “
A number of other equity research analysts have also weighed on the company recently. JPMorgan Chase & Co. raised its price target on MYT Netherlands Parent BV from $ 38.00 to $ 39.00 and assigned the stock an “overweight” rating in a research note on Monday May 24th. Morgan Stanley increased its price target on MYT Netherlands Parent BV from $ 37.00 to $ 42.00 and assigned the company an “overweight” rating in a research note on Wednesday, May 19. One investment analyst rated the stock with a conservation rating and six issued a buy rating for the company. The stock currently has an average rating of “Buy” and a consensus price target of $ 38.14.
NYSE MYTE shares opened at $ 29.98 on Thursday. The company has a debt ratio of 0.03, a current ratio of 3.65, and a quick ratio of 0.92. MYT Netherlands Parent BV has a one year minimum at $ 24.94 and a one year maximum at $ 36.25. The fifty-day moving average for the stock is $ 30.42.
Several large investors have recently changed their positions in the company. The Canada Pension Plan Investment Board purchased a new position in MYT Netherlands Parent BV in the first quarter valued at approximately $ 390,483,000. Ares Management LLC purchased a new position in shares of MYT Netherlands Parent BV in the first quarter valued at approximately $ 336,711,000. Price T Rowe Associates Inc. MD acquired a new stake in MYT Netherlands Parent BV during the first quarter for a value of approximately $ 88,039,000. TimesSquare Capital Management LLC acquired a new stake in MYT Netherlands Parent BV during the first quarter for a value of approximately $ 43,892,000. Finally, Fred Alger Management LLC acquired a new stake in MYT Netherlands Parent BV during the first quarter for a value of approximately $ 31,780,000. Hedge funds and other institutional investors hold 49.86% of the company’s shares.
MYT Netherlands Parent BV to the company profile
MYT Netherlands Parent BV, through its subsidiary Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers around the world. The company sells quality clothing, bags, shoes, accessories and jewelry through online operations and retail stores. It serves high income luxury consumers.
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