BBB Foods (NYSE:TBBB) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of BBB Foods (NYSE:TBBB) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. upped their target price on BBB Foods from $35.50 to $39.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a research report on Monday, December 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of BBB Foods from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.80.

BBB Foods Trading Down 1.9%

BBB Foods stock opened at $33.45 on Wednesday. The company has a 50 day moving average price of $31.97 and a 200 day moving average price of $28.29. BBB Foods has a 52 week low of $23.00 and a 52 week high of $35.38. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.39 and a current ratio of 0.65. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -39.82 and a beta of -0.14.

BBB Foods (NYSE:TBBB) last announced its earnings results on Wednesday, November 19th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.23). The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. BBB Foods had a negative net margin of 2.61% and a negative return on equity of 44.56%. Research analysts forecast that BBB Foods will post 0.15 EPS for the current year.

Institutional Investors Weigh In On BBB Foods

Institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. acquired a new position in BBB Foods in the second quarter worth approximately $25,000. Larson Financial Group LLC grew its position in BBB Foods by 547.9% in the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock worth $28,000 after acquiring an additional 893 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in shares of BBB Foods during the 3rd quarter worth $33,000. AdvisorNet Financial Inc bought a new position in shares of BBB Foods during the 2nd quarter valued at $37,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of BBB Foods during the 2nd quarter valued at $72,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

About BBB Foods

BBB Foods Inc, through its subsidiaries, operates a chain of grocery retail stores in Mexico. It offers household cleaning, personal hyenine, cosmetics and beauty, pharmacy, and general merchandise products, as well as jellies and desserts, foods and drinks, pet supplies, coffee, tea, chocolates, breads, dry and frozen foods, snacks and sweets, and toilet papers and napkins. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.