BBB Foods (NYSE:TBBB) Trading Up 8.8% - Time to Buy?

BBB Foods Inc. (NYSE:TBBB - Get Free Report)'s stock price shot up 8.8% during trading on Tuesday . The company traded as high as $26.82 and last traded at $26.60. 1,223,327 shares changed hands during mid-day trading, an increase of 65% from the average session volume of 741,423 shares. The stock had previously closed at $24.45.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TBBB. Itau BBA Securities raised BBB Foods from a "market perform" rating to an "outperform" rating and set a $36.00 price objective for the company in a research report on Monday, April 21st. UBS Group lifted their price objective on BBB Foods from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group raised BBB Foods to a "hold" rating in a research report on Wednesday, July 9th. Finally, Scotiabank set a $37.00 price objective on BBB Foods and gave the company an "outperform" rating in a research report on Friday, April 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $33.29.

BBB Foods Stock Up 1.2%

The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 120.53 and a beta of 0.02. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.93. The stock has a fifty day moving average of $27.69 and a two-hundred day moving average of $27.86.

BBB Foods (NYSE:TBBB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.10). The company had revenue of $838.41 million for the quarter, compared to analyst estimates of $836.80 million. BBB Foods had a return on equity of 13.08% and a net margin of 0.85%. As a group, analysts predict that BBB Foods Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Transatlantique SA acquired a new position in shares of BBB Foods during the first quarter worth about $25,000. AdvisorNet Financial Inc acquired a new position in shares of BBB Foods in the second quarter worth about $37,000. FNY Investment Advisers LLC acquired a new position in shares of BBB Foods in the first quarter worth about $37,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of BBB Foods by 124.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,140 shares of the company's stock worth $57,000 after acquiring an additional 1,187 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of BBB Foods in the first quarter worth about $96,000. Institutional investors and hedge funds own 8.42% of the company's stock.

BBB Foods Company Profile

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.