BBB Foods (NYSE:TBBB) Shares Up 6.3% Following Analyst Upgrade

Shares of BBB Foods Inc. (NYSE:TBBB) traded up 6.3% during mid-day 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 trading, a decline of 85% from the average session volume of 672,974 shares. The stock had previously closed at $31.76.

A number of other brokerages have also recently weighed in on TBBB. The Goldman Sachs Group raised their price target on BBB Foods from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a research report on Monday, December 29th. Morgan Stanley raised shares of BBB Foods to an “overweight” rating in a research note on Wednesday, January 28th. Wall Street Zen downgraded shares of BBB Foods from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, Zacks Research raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BBB Foods presently has a consensus rating of “Hold” and an average price target of $39.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its stake in shares of BBB Foods by 123.4% during the third quarter. Baillie Gifford & Co. now owns 194,851 shares of the company’s stock valued at $5,253,000 after buying an additional 107,622 shares during the period. Barings LLC purchased a new stake in BBB Foods in the 3rd quarter worth approximately $1,959,000. Citigroup Inc. raised its holdings in BBB Foods by 108.9% in the 3rd quarter. Citigroup Inc. now owns 281,023 shares of the company’s stock valued at $7,576,000 after acquiring an additional 146,488 shares during the last quarter. DNB Asset Management AS raised its holdings in BBB Foods by 60.0% in the 3rd quarter. DNB Asset Management AS now owns 374,275 shares of the company’s stock valued at $10,090,000 after acquiring an additional 140,409 shares during the last quarter. Finally, CenterBook Partners LP purchased a new position in shares of BBB Foods during the 2nd quarter worth $2,359,000. Institutional investors and hedge funds own 8.42% of the company’s stock.

BBB Foods Trading Up 6.3%

The business has a 50 day simple moving average of $35.27 and a two-hundred day simple moving average of $31.13. 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 company has a market cap of $3.86 billion, a PE ratio of -25.59 and a beta of -0.16.

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