Brokerages Set BBB Foods Inc. (NYSE:TBBB) Target Price at $30.57

BBB Foods Inc. (NYSE:TBBB) has earned an average rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $30.57.

TBBB has been the subject of several recent analyst reports. Hsbc Global Res upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Scotiabank upped their price target on BBB Foods from $33.00 to $36.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 31st. HSBC upgraded BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price target for the company in a research note on Friday, August 23rd. 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 research note on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on BBB Foods in a research note on Monday, September 9th. They issued a “hold” rating and a $33.00 price target for the company.

BBB Foods Price Performance

BBB Foods stock opened at $31.64 on Tuesday. The business has a 50-day simple moving average of $28.61 and a two-hundred day simple moving average of $25.22. BBB Foods has a 52-week low of $18.71 and a 52-week high of $33.16. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.54 and a current ratio of 0.79.

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

Hedge Funds Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp purchased a new position in BBB Foods during the first quarter valued at $32,000. Hood River Capital Management LLC purchased a new position in BBB Foods during the first quarter valued at $54,000. National Bank of Canada FI purchased a new position in BBB Foods during the second quarter valued at $103,000. Engle Capital Management L.P. lifted its holdings in BBB Foods by 0.7% during the second quarter. Engle Capital Management L.P. now owns 720,000 shares of the company’s stock valued at $17,179,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in BBB Foods during the second quarter valued at $143,000. 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.