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

Key Points

• Zacks Research upgraded BBB Foods from a “strong sell” to a “hold” rating, reflecting a modestly improved outlook from that firm.
• Overall analyst sentiment is mixed but leans neutral: BBB Foods has a consensus Hold rating and an average price target of $43.14, with several firms recently raising targets or ratings.
• The company recently reported a Q1 earnings miss, posting EPS of -$0.27 versus expectations of -$0.24, while revenue came in slightly above estimates at $1.28 billion.

BBB Foods (NYSE:TBBB - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of BBB Foods from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Weiss Ratings reissued a "sell (d+)" rating on shares of BBB Foods in a report on Wednesday, June 24th. HSBC upgraded BBB Foods from a "hold" rating to a "buy" rating and raised their price target for the stock from $38.00 to $47.00 in a research note on Wednesday, May 27th. Scotiabank lifted their price objective on BBB Foods from $37.00 to $48.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded 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 assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, BBB Foods has a consensus rating of "Hold" and a consensus target price of $43.14.

BBB Foods Stock Performance

Shares of NYSE TBBB opened at $40.51 on Monday. The firm's 50-day moving average price is $39.47 and its 200-day moving average price is $36.83. BBB Foods has a 52-week low of $23.81 and a 52-week high of $43.81. The company has a market cap of $4.80 billion, a PE ratio of -26.13 and a beta of -0.02. The company has a quick ratio of 0.35, a current ratio of 0.60 and a debt-to-equity ratio of 2.76.

BBB Foods (NYSE:TBBB - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.27 billion. BBB Foods had a negative net margin of 3.95% and a negative return on equity of 79.86%. As a group, analysts anticipate that BBB Foods will post -0.61 EPS for the current year.

Institutional Trading of BBB Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBBB. Osaic Holdings Inc. purchased a new position in shares of BBB Foods during the 2nd quarter worth $25,000. Farther Finance Advisors LLC grew its position in shares of BBB Foods by 92.5% during the 4th quarter. Farther Finance Advisors LLC now owns 824 shares of the company's stock valued at $28,000 after acquiring an additional 396 shares during the period. Larson Financial Group LLC increased its stake in shares of BBB Foods by 547.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,056 shares of the company's stock worth $28,000 after purchasing an additional 893 shares in the last quarter. Smartleaf Asset Management LLC purchased a new stake in shares of BBB Foods in the 4th quarter worth $39,000. Finally, Toth Financial Advisory Corp raised its holdings in BBB Foods by 29.0% in the 4th quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company's stock worth $53,000 after purchasing an additional 360 shares during the period. 8.42% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.