Scotiabank Issues Positive Forecast for BBB Foods (NYSE:TBBB) Stock Price

BBB Foods (NYSE:TBBB) had its price objective lifted by Scotiabank from $37.00 to $48.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 29.81% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of BBB Foods to an “overweight” rating in a report on Wednesday, January 28th. Wells Fargo & Company set a $42.00 price target on shares of BBB Foods in a report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a research note on Friday, March 27th. JPMorgan Chase & Co. raised their price objective on shares of BBB Foods from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of BBB Foods from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Four 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. According to MarketBeat, BBB Foods presently has an average rating of “Hold” and a consensus target price of $42.50.

BBB Foods Stock Up 2.4%

NYSE:TBBB traded up $0.87 during trading hours on Tuesday, reaching $36.98. The company had a trading volume of 28,111 shares, compared to its average volume of 578,751. The company has a quick ratio of 0.35, a current ratio of 0.62 and a debt-to-equity ratio of 2.61. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -27.99 and a beta of 0.02. The business’s 50-day simple moving average is $35.54 and its two-hundred day simple moving average is $33.65. BBB Foods has a twelve month low of $23.81 and a twelve month high of $40.09.

BBB Foods (NYSE:TBBB) last posted its quarterly 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 analyst estimates of $1.24 billion. BBB Foods had a negative return on equity of 70.80% and a negative net margin of 3.72%. On average, equities analysts expect that BBB Foods will post -0.57 earnings per share for the current year.

Institutional Trading of BBB Foods

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of BBB Foods by 92.5% in the fourth quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock valued at $28,000 after purchasing an additional 396 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in shares of BBB Foods in the second quarter valued at about $25,000. Larson Financial Group LLC raised its holdings in shares of BBB Foods by 547.9% in the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock valued at $28,000 after purchasing an additional 893 shares during the last quarter. Smartleaf Asset Management LLC purchased a new stake in shares of BBB Foods in the fourth quarter valued at about $39,000. Finally, Toth Financial Advisory Corp raised its holdings in shares of BBB Foods by 29.0% in the fourth quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company’s stock valued at $53,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other 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.