BBB Foods (NYSE:TBBB) Upgraded at Itau BBA Securities

BBB Foods (NYSE:TBBB) was upgraded by equities researchers at Itau BBA Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a $42.00 target price on the stock. Itau BBA Securities’ price objective indicates a potential upside of 25.20% from the company’s previous close.

TBBB has been the topic of several other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a research report on Monday, December 29th. Morgan Stanley upgraded shares of BBB Foods to an “overweight” rating in a research note on Wednesday, January 28th. UBS Group increased their price target 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. The Goldman Sachs Group lifted their price objective on shares of BBB Foods from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, December 18th. Finally, Wall Street Zen downgraded shares of BBB Foods from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.50.

BBB Foods Stock Performance

NYSE:TBBB traded up $1.79 during mid-day trading on Friday, hitting $33.55. The company’s stock had a trading volume of 327,956 shares, compared to its average volume of 677,701. The business’s fifty day moving average is $35.27 and its two-hundred day moving average is $31.13. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -25.42 and a beta of -0.16. BBB Foods has a 1 year low of $23.75 and a 1 year high of $40.09. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.65 and a quick ratio of 0.39.

BBB Foods (NYSE:TBBB) last issued its earnings results on Wednesday, March 11th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.24 billion. BBB Foods had a negative return on equity of 70.82% and a negative net margin of 3.72%. Analysts anticipate that BBB Foods will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On BBB Foods

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in BBB Foods by 276.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock worth $4,176,000 after buying an additional 114,990 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of BBB Foods by 687.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,607 shares of the company’s stock worth $3,098,000 after acquiring an additional 97,431 shares during the last quarter. Thames Capital Management LLC purchased a new stake in shares of BBB Foods during the second quarter worth approximately $7,342,000. CenterBook Partners LP purchased a new stake in shares of BBB Foods during the second quarter worth approximately $2,359,000. Finally, Northwest & Ethical Investments L.P. raised its stake in BBB Foods by 5.7% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 62,449 shares of the company’s stock valued at $1,734,000 after purchasing an additional 3,371 shares during the last quarter. 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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.