BBB Foods (NYSE:TBBB) Price Target Raised to $46.00

BBB Foods (NYSE:TBBB) had its price objective lifted by analysts at JPMorgan Chase & Co. from $44.00 to $46.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 18.63% from the stock’s current price.

TBBB has been the subject of several other research reports. Zacks Research cut shares of BBB Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 23rd. UBS Group increased their target price on shares of BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Itau BBA Securities upgraded shares of BBB Foods from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Friday, March 13th. Morgan Stanley upgraded shares of BBB Foods to an “overweight” rating in a report on Wednesday, January 28th. Finally, Wall Street Zen upgraded shares of BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BBB Foods currently has an average rating of “Hold” and an average target price of $41.40.

BBB Foods Stock Up 1.6%

Shares of BBB Foods stock traded up $0.60 on Monday, hitting $38.78. The company had a trading volume of 74,571 shares, compared to its average volume of 623,335. The firm has a market capitalization of $4.53 billion, a P/E ratio of -29.37 and a beta of 0.01. BBB Foods has a twelve month low of $23.81 and a twelve month high of $40.09. The company has a debt-to-equity ratio of 2.61, a current ratio of 0.62 and a quick ratio of 0.35. The stock has a 50-day moving average of $35.68 and a 200-day moving average of $32.87.

BBB Foods (NYSE:TBBB) last announced 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 return on equity of 70.80% and a negative net margin of 3.72%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. Research analysts predict that BBB Foods will post 0.15 earnings per share for the current year.

Institutional Trading of BBB Foods

A number of large investors have recently added to or reduced their stakes in TBBB. Ashoka WhiteOak Capital Pte Ltd raised its position in shares of BBB Foods by 40.7% in the first quarter. Ashoka WhiteOak Capital Pte Ltd now owns 201,528 shares of the company’s stock valued at $6,922,000 after purchasing an additional 58,328 shares during the period. Hsbc Holdings PLC bought a new position in shares of BBB Foods in the fourth quarter valued at about $565,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BBB Foods in the fourth quarter valued at about $89,000. Virtu Financial LLC bought a new position in shares of BBB Foods in the fourth quarter valued at about $399,000. Finally, XTX Topco Ltd bought a new position in shares of BBB Foods in the fourth quarter valued at about $463,000. Institutional investors and hedge funds own 8.42% of the company’s stock.

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.