BBB Foods (NYSE:TBBB) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of BBB Foods (NYSE:TBBB) from a strong sell rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on TBBB. Wall Street Zen cut shares of BBB Foods from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Morgan Stanley raised BBB Foods to an “overweight” rating in a research note on Wednesday, January 28th. The Goldman Sachs Group increased their price target on BBB Foods from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, December 18th. JPMorgan Chase & Co. lifted their price objective on BBB Foods from $35.50 to $39.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, BBB Foods presently has a consensus rating of “Hold” and an average target price of $35.80.

BBB Foods Trading Up 2.2%

TBBB opened at $38.99 on Thursday. BBB Foods has a 52 week low of $23.00 and a 52 week high of $39.39. The company has a quick ratio of 0.39, a current ratio of 0.65 and a debt-to-equity ratio of 2.21. The business has a fifty day simple moving average of $34.02 and a 200-day simple moving average of $29.39. The firm has a market cap of $4.45 billion, a P/E ratio of -46.42 and a beta of -0.14.

BBB Foods (NYSE:TBBB) last posted its earnings results on Wednesday, November 19th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.23). The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. BBB Foods had a negative return on equity of 44.56% and a negative net margin of 2.61%. On average, equities analysts expect that BBB Foods will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On BBB Foods

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in BBB Foods by 92.5% in the 4th quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock valued at $28,000 after purchasing an additional 396 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of BBB Foods in the 2nd quarter valued at approximately $25,000. Larson Financial Group LLC boosted its stake 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 buying an additional 893 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in BBB Foods during the third quarter worth $33,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in BBB Foods during the second quarter worth $72,000. 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.