Ingles Markets (NASDAQ:IMKTA) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Ingles Markets (NASDAQ:IMKTA) from a strong-buy rating to a buy rating in a research note published on Tuesday morning, BidAskClub reports.

A number of other research firms have also weighed in on IMKTA. ValuEngine raised Ingles Markets from a strong sell rating to a sell rating in a research report on Tuesday, July 9th. Zacks Investment Research upgraded Ingles Markets from a hold rating to a strong-buy rating and set a $39.00 price target on the stock in a research note on Wednesday, August 14th.

Shares of IMKTA stock opened at $39.46 on Tuesday. The stock has a market capitalization of $832.65 million, a PE ratio of 8.20, a P/E/G ratio of 0.73 and a beta of 0.37. Ingles Markets has a 1-year low of $25.57 and a 1-year high of $43.65. The business has a 50-day moving average of $36.87 and a 200 day moving average of $31.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.06 and a quick ratio of 0.47.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.16 earnings per share for the quarter. Ingles Markets had a return on equity of 12.75% and a net margin of 1.89%. The business had revenue of $1.06 billion during the quarter. Analysts anticipate that Ingles Markets will post 3.9 EPS for the current year.

In other Ingles Markets news, Director Sharp Laura Ingle sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $31.06, for a total transaction of $155,300.00. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $465,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 11,288 shares of company stock worth $412,084 over the last ninety days. Insiders own 29.50% of the company’s stock.

Several large investors have recently made changes to their positions in the business. UBS Asset Management Americas Inc. purchased a new stake in shares of Ingles Markets in the second quarter valued at approximately $205,000. Jefferies Group LLC increased its position in shares of Ingles Markets by 30.8% during the second quarter. Jefferies Group LLC now owns 11,519 shares of the company’s stock worth $359,000 after purchasing an additional 2,710 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of Ingles Markets during the second quarter worth $212,000. Man Group plc acquired a new position in shares of Ingles Markets during the second quarter worth $305,000. Finally, Zebra Capital Management LLC acquired a new position in shares of Ingles Markets in the 2nd quarter valued at $293,000. Institutional investors and hedge funds own 65.03% of the company’s stock.

Ingles Markets Company Profile

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

Further Reading: Diluted Earnings Per Share

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