BBB Foods (NYSE:TBBB) Hits New 52-Week High – Time to Buy?

BBB Foods Inc. (NYSE:TBBB) hit a new 52-week high on Friday . The company traded as high as $50.77 and last traded at $50.55, with a volume of 72398 shares changing hands. The stock had previously closed at $49.77.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TBBB shares. Citigroup assumed coverage on BBB Foods in a research report on Friday, July 31st. They issued a “buy” rating and a $49.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. Scotiabank lifted their price objective on BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on BBB Foods from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BBB Foods has an average rating of “Moderate Buy” and a consensus target price of $45.12.

BBB Foods Trading Up 1.1%

The firm’s 50 day moving average price is $42.25 and its 200-day moving average price is $38.53. The stock has a market cap of $5.97 billion and a P/E ratio of -31.27. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.44.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.42 billion. As a group, equities research analysts forecast that BBB Foods Inc. will post -0.61 earnings per share for the current year.

Institutional Trading of BBB Foods

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in shares of BBB Foods by 92.5% during the fourth quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock valued at $28,000 after purchasing an additional 396 shares in the last quarter. Osaic Holdings Inc. bought a new stake in BBB Foods in the 2nd quarter worth about $25,000. Larson Financial Group LLC increased its holdings in 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 buying an additional 893 shares in the last quarter. Smartleaf Asset Management LLC purchased a new position in BBB Foods in the 4th quarter worth about $39,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in BBB Foods during the 4th quarter valued at about $89,000. 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.