BBB Foods (NYSE:TBBB) Trading 6.3% Higher After Analyst Upgrade

BBB Foods Inc. (NYSE:TBBB) traded up 6.3% during trading on Friday after Itau BBA Securities upgraded the stock from a market perform rating to an outperform rating. Itau BBA Securities now has a $42.00 price target on the stock. BBB Foods traded as high as $33.82 and last traded at $33.7660. 98,898 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 672,974 shares. The stock had previously closed at $31.76.

TBBB has been the subject of several other research reports. UBS Group lifted their price objective on shares of BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Wall Street Zen lowered shares of BBB Foods from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Zacks Research raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Thursday, February 5th. Morgan Stanley upgraded shares of BBB Foods to an “overweight” rating in a research report on Wednesday, January 28th. Finally, The Goldman Sachs Group increased their price target on BBB Foods from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.50.

Institutional Investors Weigh In On BBB Foods

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in BBB Foods by 92.5% in the 4th quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock worth $28,000 after purchasing an additional 396 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of BBB Foods during the second quarter valued at about $25,000. Larson Financial Group LLC grew its holdings in shares of BBB Foods by 547.9% during the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock worth $28,000 after purchasing an additional 893 shares during the last quarter. Smartleaf Asset Management LLC acquired a new position in shares of BBB Foods in the fourth quarter valued at approximately $39,000. Finally, Toth Financial Advisory Corp bought a new position in BBB Foods in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 8.42% of the company’s stock.

BBB Foods Trading Up 4.2%

The firm’s 50-day moving average is $35.24 and its 200 day moving average is $31.18. The company has a current ratio of 0.65, a quick ratio of 0.39 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -25.08 and a beta of -0.16.

BBB Foods (NYSE:TBBB) last released its quarterly earnings results on Wednesday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. BBB Foods had a negative net margin of 3.72% and a negative return on equity of 70.82%. On average, equities analysts predict that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

BBB Foods Company Profile

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.