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

Key Points

• Scotiabank raised its price target on BBB Foods from $37 to $48 and gave a "sector outperform" rating, implying about a 29.8% upside from the prior close.
• Analysts are split: the consensus rating is Hold with a $42.50 consensus price target, while individual firms range from "strong sell" to "overweight."
• BBB Foods recently missed quarterly EPS (reported -$0.49 vs. -$0.27 expected) and shows weak fundamentals, including a negative ROE (~70.8%), negative net margin (~3.72%), and a debt-to-equity ratio of 2.61.

BBB Foods (NYSE:TBBB - Get Free Report) had its price target increased by research analysts at Scotiabank from $37.00 to $48.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 29.81% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. UBS Group boosted their target price on shares of BBB Foods from $31.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Zacks Research cut shares of BBB Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BBB Foods in a research note on Friday, March 27th. Morgan Stanley upgraded shares of BBB Foods to an "overweight" rating in a report on Wednesday, January 28th. Finally, Wells Fargo & Company set a $42.00 price target on shares of BBB Foods in a report on Friday, March 13th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $42.50.

BBB Foods Price Performance

Shares of NYSE TBBB traded up $0.87 during midday trading on Tuesday, reaching $36.98. 28,111 shares of the company were exchanged, compared to its average volume of 578,751. The stock's 50-day moving average price is $35.54 and its 200-day moving average price is $33.65. The stock has a market cap of $4.32 billion, a P/E ratio of -27.99 and a beta of 0.02. BBB Foods has a one year low of $23.81 and a one year high of $40.09. The company has a quick ratio of 0.35, a current ratio of 0.62 and a debt-to-equity ratio of 2.61.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its earnings results on Wednesday, March 11th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.22). The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that BBB Foods will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of BBB Foods

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in BBB Foods by 92.5% during the 4th quarter. Farther Finance Advisors LLC now owns 824 shares of the company's stock worth $28,000 after acquiring an additional 396 shares during the period. Osaic Holdings Inc. acquired a new stake in BBB Foods during the 2nd quarter worth about $25,000. Larson Financial Group LLC grew its holdings in BBB Foods by 547.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,056 shares of the company's stock worth $28,000 after acquiring an additional 893 shares during the period. Smartleaf Asset Management LLC acquired a new stake in BBB Foods during the 4th quarter worth about $39,000. Finally, Toth Financial Advisory Corp grew its holdings in BBB Foods by 29.0% during the 4th quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company's stock worth $53,000 after acquiring an additional 360 shares during the period. 8.42% of the stock is currently owned by institutional investors and hedge funds.

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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.

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