BBB Foods (NYSE:TBBB) Upgraded to “Outperform” at Itau BBA Securities

BBB Foods (NYSE:TBBB) was upgraded by stock analysts at Itau BBA Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, MarketBeat reports. The firm currently has a $36.00 price objective on the stock. Itau BBA Securities’ target price would suggest a potential upside of 38.70% from the stock’s current price.

Separately, Scotiabank set a $37.00 target price on shares of BBB Foods and gave the stock an “outperform” rating in a research report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

BBB Foods Trading Up 0.8 %

Shares of NYSE TBBB opened at $25.96 on Monday. BBB Foods has a twelve month low of $19.67 and a twelve month high of $35.22. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. The stock has a 50 day moving average of $26.34 and a two-hundred day moving average of $29.17.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings results on Wednesday, April 9th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($1.03). The business had revenue of $784.03 million during the quarter, compared to the consensus estimate of $16.87 billion. On average, research analysts expect that BBB Foods will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

Several institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in BBB Foods in the 1st quarter worth $37,000. Toronto Dominion Bank bought a new stake in shares of BBB Foods in the fourth quarter valued at approximately $141,000. USS Investment Management Ltd increased its position in shares of BBB Foods by 14.8% in the fourth quarter. USS Investment Management Ltd now owns 604,735 shares of the company’s stock worth $17,132,000 after purchasing an additional 77,752 shares during the period. Voloridge Investment Management LLC raised its position in shares of BBB Foods by 0.6% in the 4th quarter. Voloridge Investment Management LLC now owns 302,119 shares of the company’s stock valued at $8,544,000 after buying an additional 1,736 shares in the last quarter. Finally, Seven Grand Managers LLC bought a new stake in shares of BBB Foods during the 4th quarter valued at approximately $3,535,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

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.