MYT Netherlands Parent BV (NYSE: MYTE) downgraded by Zacks Investment Research for sale
MYT Netherlands Parent BV (NYSE: MYTE – Get Note) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released Wednesday, Zacks.com reports.
According to Zacks, “MYT Netherlands Parent BV is an online luxury fashion retailer. The company offers ready-to-wear, shoes, bags and accessories for women, men and children. It 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 is involved in high-end luxury buyers range, exclusive product and content offers. MYT Netherlands Parent BV is based in MUNICH.”
MYTE has been the subject of a number of other research reports. JPMorgan Chase & Co. cut its price target on MYT Netherlands Parent BV from $23.00 to $15.00 in a Monday, May 16 research report. UBS Group upgraded MYT Netherlands Parent BV from a ‘neutral’ rating to a ‘buy’ rating and cut its share price target from $30.00 to $19.00 in a Thursday, March 24 report . Cowen lowered his price target on MYT Netherlands Parent BV from $40.00 to $22.00 in a Thursday, February 17 research note. Credit Suisse Group lowered its price target on MYT Netherlands Parent BV from $27.00 to $18.00 and set an “outperform” rating on the stock in a Wednesday, March 16 research report. Finally, Morgan Stanley reiterated an “equal weight” rating and set a target price of $14.00 (vs. $39.00) on MYT Netherlands Parent BV shares in a Tuesday, April 12 research report. One financial analyst assigned the stock a sell rating, one assigned a hold rating and five assigned the company’s stock a buy rating. According to MarketBeat, the stock currently has a consensus buy rating and an average target price of $21.00.
MYTE opened at $11.87 on Wednesday. The stock has a market capitalization of $1.00 billion, a P/E ratio of -45.65 and a beta of 0.30. MYT Netherlands Parent BV has a 12-month low of $9.06 and a 12-month high of $32.35. The stock has a 50-day moving average price of $11.57 and a 200-day moving average price of $15.72. The company has a current ratio of 2.98, a quick ratio of 1.23 and a debt ratio of 0.04.
MYT Netherlands Parent BV (NYSE: MYTE – Get Rating) last reported results on Tuesday, May 10. The company reported earnings per share of $0.07 for the quarter, beating the consensus estimate of $0.04 by $0.03. The company posted revenue of $190.20 million in the quarter, compared to $194.56 million expected by analysts. MYT Netherlands Parent BV recorded a positive return on equity of 10.02% and a negative net margin of 2.63%. During the same period of the previous year, the company posted an EPS of ($0.52). On average, equity research analysts expect MYT Netherlands Parent BV to post an EPS of 0.47 for the current year.
A number of institutional investors have recently changed their holdings in MYTE. FourThought Financial LLC increased its stake in MYT Netherlands Parent BV by 122.7% in the 1st quarter. FourThought Financial LLC now owns 2,761 shares of the company valued at $34,000 after purchasing an additional 1,521 shares in the last quarter. Quantbot Technologies LP acquired a new stake in the shares of MYT Netherlands Parent BV during Q1 for a value of approximately $56,000. Jane Street Group LLC acquired a new stake in the shares of MYT Netherlands Parent BV during Q3 for a value of approximately $282,000. Advisor Group Holdings Inc. increased its stake in MYT Netherlands Parent BV by 11.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 24,145 shares of the company valued at $295,000 after purchasing an additional 2,429 shares in the last quarter. Finally, LPL Financial LLC increased its stake in MYT Netherlands Parent BV by 58.2% in the 3rd quarter. LPL Financial LLC now owns 10,967 shares of the company valued at $295,000 after purchasing an additional 4,033 shares in the last quarter. 22.36% of the shares are currently held by hedge funds and other institutional investors.
MYT Netherlands Parent BV Company Profile (Get an assessment)
MYT Netherlands Parent BV, through its subsidiary Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, the rest of Europe and internationally. The Company sells fine apparel, bags, shoes, accessories and jewelry through online and retail stores.
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