BBB Foods (NYSE:TBBB) Shares Up 3.9% – Time to Buy?

BBB Foods Inc. (NYSE:TBBB) rose 3.9% during mid-day trading on Tuesday . The stock traded as high as $32.97 and last traded at $32.97. Approximately 31,102 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 794,190 shares. The stock had previously closed at $31.74.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TBBB shares. JPMorgan Chase & Co. upped their price target on BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Hsbc Global Res raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. HSBC upgraded shares of BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price target for the company in a report on Friday, August 23rd. Finally, Jefferies Financial Group assumed coverage on shares of BBB Foods in a report on Monday, September 9th. They issued a “hold” rating and a $33.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.57.

BBB Foods Price Performance

The firm’s 50 day simple moving average is $30.31 and its 200-day simple moving average is $26.22. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.85.

BBB Foods (NYSE:TBBB) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.02 by $0.15. The business had revenue of $788.28 million during the quarter, compared to analysts’ expectations of $708.69 million. On average, sell-side analysts anticipate that BBB Foods Inc. will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Capital International Investors purchased a new position in shares of BBB Foods in the 1st quarter valued at about $120,440,000. William Blair Investment Management LLC acquired a new stake in BBB Foods in the first quarter valued at $48,934,000. Capital International Inc. CA purchased a new position in shares of BBB Foods in the first quarter valued at $33,004,000. Driehaus Capital Management LLC acquired a new position in shares of BBB Foods during the 2nd quarter worth $26,562,000. Finally, Thornburg Investment Management Inc. purchased a new stake in shares of BBB Foods in the 1st quarter worth about $18,668,000. 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.