JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BBB Foods (NYSE:TBBB) Stock

BBB Foods (NYSE:TBBB) had its target price raised by JPMorgan Chase & Co. from $46.00 to $48.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 18.17% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. HSBC upgraded BBB Foods from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $38.00 to $47.00 in a research report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Scotiabank lifted their price target on BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.43.

BBB Foods Trading Up 1.1%

Shares of BBB Foods stock opened at $40.62 on Thursday. The firm’s 50 day moving average is $39.61 and its 200 day moving average is $36.94. The firm has a market capitalization of $4.82 billion, a PE ratio of -26.21 and a beta of -0.02. BBB Foods has a 1 year low of $23.81 and a 1 year high of $43.81. The company has a current ratio of 0.60, a quick ratio of 0.35 and a debt-to-equity ratio of 2.76.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). BBB Foods had a negative net margin of 3.95% and a negative return on equity of 79.86%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Equities research analysts forecast that BBB Foods will post -0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BBB Foods

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in BBB Foods by 92.5% in the fourth quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock valued at $28,000 after acquiring an additional 396 shares during the last quarter. Osaic Holdings Inc. acquired a new position in shares of BBB Foods in the 2nd quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in shares of BBB Foods by 547.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock valued at $28,000 after purchasing an additional 893 shares during the last quarter. Smartleaf Asset Management LLC acquired a new stake in shares of BBB Foods during the fourth quarter worth $39,000. Finally, Toth Financial Advisory Corp raised its stake in BBB Foods by 29.0% during the fourth quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company’s stock worth $53,000 after buying an additional 360 shares during the last quarter. Institutional investors own 8.42% of the company’s stock.

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.