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 report released on Monday,Zacks.com reports.

Several other brokerages also recently commented on TBBB. Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. HSBC raised shares of BBB Foods from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $47.00 in a report on Wednesday, May 27th. JPMorgan Chase & Co. upped their target price on shares of BBB Foods from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Scotiabank increased their price target on shares of BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of BBB Foods from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $43.14.

BBB Foods Stock Down 2.9%

Shares of NYSE:TBBB opened at $40.51 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.35 and a debt-to-equity ratio of 2.76. The stock has a fifty day simple moving average of $39.47 and a two-hundred day simple moving average of $36.83. BBB Foods has a 12-month low of $23.81 and a 12-month high of $43.81. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -26.13 and a beta of -0.02.

BBB Foods (NYSE:TBBB) last released its earnings results on Wednesday, May 6th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%.The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. On average, research analysts anticipate that BBB Foods will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

A number of hedge funds have recently bought and sold shares of the business. Toth Financial Advisory Corp boosted its holdings in shares of BBB Foods by 29.0% during the 4th quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company’s stock valued at $53,000 after acquiring an additional 360 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of BBB Foods by 92.5% during 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. Orion Porfolio Solutions LLC raised its holdings in shares of BBB Foods by 2.9% during the third quarter. Orion Porfolio Solutions LLC now owns 27,163 shares of the company’s stock valued at $732,000 after purchasing an additional 770 shares during the last quarter. Savant Capital LLC raised its holdings in shares of BBB Foods by 6.7% during the fourth quarter. Savant Capital LLC now owns 12,540 shares of the company’s stock valued at $419,000 after purchasing an additional 792 shares during the last quarter. Finally, Osaic Holdings Inc. bought a new position in BBB Foods during the second quarter valued at approximately $25,000. 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.