BBB Foods (NYSE:TBBB) Upgraded at Citigroup

BBB Foods (NYSE:TBBB) was upgraded by equities research analysts at Citigroup to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of BBB Foods from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. Finally, Scotiabank lifted their price target on BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.12.

BBB Foods Price Performance

Shares of TBBB opened at $41.21 on Friday. The business’s fifty day moving average is $40.40 and its 200 day moving average is $37.39. BBB Foods has a 12-month low of $23.81 and a 12-month high of $43.81. The company has a quick ratio of 0.35, a current ratio of 0.60 and a debt-to-equity ratio of 2.76. The stock has a market cap of $4.89 billion, a P/E ratio of -26.59 and a beta of -0.02.

BBB Foods (NYSE:TBBB) last announced its quarterly 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 net margin of 3.95% and a negative return on equity of 79.86%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sell-side analysts anticipate that BBB Foods will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of BBB Foods

Several institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP raised its holdings in shares of BBB Foods by 3.4% in the second quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock valued at $176,659,000 after purchasing an additional 139,649 shares during the last quarter. Carmignac Gestion bought a new position in shares of BBB Foods during the first quarter valued at about $3,778,000. Militia Capital Management LLC purchased a new position in BBB Foods during the first quarter worth about $1,734,000. Royal Bank of Canada boosted its holdings in BBB Foods by 19.6% during the first quarter. Royal Bank of Canada now owns 11,415 shares of the company’s stock worth $404,000 after purchasing an additional 1,874 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in BBB Foods by 12.4% in the 1st quarter. Lazard Asset Management LLC now owns 63,744 shares of the company’s stock worth $2,255,000 after purchasing an additional 7,032 shares in the last quarter. Institutional investors 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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.