BBB Foods (NYSE:TBBB) Shares Gap Down – What’s Next?

Shares of BBB Foods Inc. (NYSE:TBBB) gapped down prior to trading on Tuesday . The stock had previously closed at $34.16, but opened at $32.14. BBB Foods shares last traded at $31.88, with a volume of 50,971 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TBBB shares. HSBC raised shares of 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. increased their price target 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. Hsbc Global Res raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group initiated coverage on shares of BBB Foods in a research note on Monday, September 9th. They set a “hold” rating and a $33.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, BBB Foods has a consensus rating of “Hold” and an average price target of $30.57.

BBB Foods Stock Performance

The stock’s fifty day moving average price is $32.11 and its 200 day moving average price is $28.34. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.85.

Institutional Investors Weigh In On BBB Foods

A number of institutional investors have recently made changes to their positions in the company. J.Safra Asset Management Corp boosted its holdings in BBB Foods by 153.3% in the second quarter. J.Safra Asset Management Corp now owns 3,369 shares of the company’s stock worth $80,000 after purchasing an additional 2,039 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of BBB Foods during the 2nd quarter worth $103,000. Hood River Capital Management LLC boosted its stake in shares of BBB Foods by 118.5% during the 2nd quarter. Hood River Capital Management LLC now owns 4,958 shares of the company’s stock worth $119,000 after acquiring an additional 2,689 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of BBB Foods during the 2nd quarter worth $143,000. Finally, Quent Capital LLC purchased a new position in shares of BBB Foods during the 2nd quarter worth $167,000. Hedge funds and other institutional investors 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.