BBB Foods (NYSE:TBBB) Hits New 12-Month High – Here’s Why

by · The Cerbat Gem

Shares of BBB Foods Inc. (NYSE:TBBB – Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $34.21 and last traded at $34.17, with a volume of 209194 shares changing hands. The stock had previously closed at $33.22.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TBBB shares. Hsbc Global Res upgraded shares of BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. 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 target price on the stock. HSBC upgraded shares of BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 target price on the stock in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.57.

Get Our Latest Analysis on BBB Foods

BBB Foods Price Performance

The firm’s fifty day simple moving average is $30.98 and its 200-day simple moving average is $26.61. 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 – Get Free Report) last announced its earnings results on Wednesday, August 21st. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. The company had revenue of $788.28 million for the quarter, compared to analysts’ expectations of $708.69 million. As a group, research analysts predict that BBB Foods Inc. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Capital International Investors purchased a new position in BBB Foods during the 1st quarter worth $120,440,000. William Blair Investment Management LLC acquired a new stake in BBB Foods in the first quarter worth about $48,934,000. Capital International Inc. CA acquired a new stake in BBB Foods in the 1st quarter worth approximately $33,004,000. Driehaus Capital Management LLC purchased a new stake in shares of BBB Foods during the second quarter valued at $26,562,000. Finally, Thornburg Investment Management Inc. purchased a new position in shares of BBB Foods in the first quarter worth about $18,668,000. Hedge funds and other institutional investors own 8.42% of the company’s stock.

About BBB Foods

(Get Free Report)

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.

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