BBB Foods (NYSE:TBBB) Price Target Raised to $48.00

BBB Foods (NYSE:TBBB) had its price objective increased by Scotiabank from $37.00 to $48.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of BBB Foods from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Morgan Stanley raised shares of BBB Foods to an “overweight” rating in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a research note on Friday, March 27th. Zacks Research downgraded shares of BBB Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 23rd. Finally, Wells Fargo & Company set a $42.00 price target on shares of BBB Foods in a research note on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.50.

BBB Foods Price Performance

Shares of NYSE:TBBB opened at $38.26 on Tuesday. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -24.68 and a beta of 0.02. 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 firm has a 50 day simple moving average of $35.61 and a 200 day simple moving average of $33.88. BBB Foods has a one year low of $23.81 and a one year high of $40.09.

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). The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. BBB Foods had a negative net margin of 3.95% and a negative return on equity of 82.15%. Research analysts predict that BBB Foods will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

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