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

BBB Foods Inc. (NYSE:TBBB - Get Free Report)'s stock price 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. The stock had previously closed at $33.22.

Wall Street Analysts Forecast Growth

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

BBB Foods Stock Up 3.1 %

The company has a debt-to-equity ratio of 1.85, a current ratio of 0.79 and a quick ratio of 0.54. The company has a 50-day simple moving average of $31.09 and a 200-day simple moving average of $26.69.

BBB Foods (NYSE:TBBB - Get Free Report) 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 business had revenue of $788.28 million during the quarter, compared to the consensus estimate of $708.69 million. On average, equities research analysts forecast that BBB Foods Inc. will post 0.14 earnings per share for the current year.

Institutional Trading of BBB Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Driehaus Capital Management LLC acquired a new position in BBB Foods during the 2nd quarter worth $26,562,000. The Manufacturers Life Insurance Company raised its position in shares of BBB Foods by 23.3% during the second quarter. The Manufacturers Life Insurance Company now owns 686,606 shares of the company's stock worth $16,382,000 after acquiring an additional 129,773 shares during the last quarter. Employees Retirement System of Texas lifted its stake in shares of BBB Foods by 661.5% during the second quarter. Employees Retirement System of Texas now owns 211,709 shares of the company's stock valued at $5,051,000 after acquiring an additional 183,909 shares during the period. Engle Capital Management L.P. boosted its holdings in BBB Foods by 0.7% in the second quarter. Engle Capital Management L.P. now owns 720,000 shares of the company's stock valued at $17,179,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Point72 Europe London LLP boosted its holdings in BBB Foods by 158.3% in the second quarter. Point72 Europe London LLP now owns 150,000 shares of the company's stock valued at $3,579,000 after acquiring an additional 91,927 shares during the last quarter. Institutional investors and hedge funds own 8.42% of the company's stock.

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.