Ingles Markets (NASDAQ:IMKTA) Upgraded at ValuEngine

ValuEngine upgraded shares of Ingles Markets (NASDAQ:IMKTA) from a sell rating to a hold rating in a research report report published on Thursday, ValuEngine reports.

Several other research firms have also issued reports on IMKTA. Zacks Investment Research lowered shares of Ingles Markets from a buy rating to a hold rating in a report on Wednesday, February 12th. BidaskClub lowered shares of Ingles Markets from a buy rating to a hold rating in a report on Friday, March 27th.

Ingles Markets stock traded up $2.29 during trading hours on Thursday, hitting $40.65. 170,200 shares of the stock traded hands, compared to its average volume of 110,694. The firm’s 50-day moving average price is $36.63 and its two-hundred day moving average price is $41.02. The company has a current ratio of 2.05, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The company has a market cap of $777.14 million, a PE ratio of 10.67, a PEG ratio of 0.87 and a beta of 0.58. Ingles Markets has a one year low of $26.68 and a one year high of $49.14.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.87 earnings per share for the quarter. The business had revenue of $1.08 billion for the quarter. Ingles Markets had a return on equity of 11.80% and a net margin of 1.83%. On average, sell-side analysts expect that Ingles Markets will post 4.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 9th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, April 8th. This represents a $0.66 dividend on an annualized basis and a yield of 1.62%. Ingles Markets’s payout ratio is currently 16.38%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its holdings in Ingles Markets by 66.6% in the 4th quarter. Meeder Asset Management Inc. now owns 913 shares of the company’s stock worth $44,000 after acquiring an additional 365 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in Ingles Markets during the 4th quarter valued at $58,000. Anderson Fisher LLC purchased a new stake in Ingles Markets during the 4th quarter valued at $82,000. Bank of Montreal Can raised its stake in Ingles Markets by 21.0% during the 4th quarter. Bank of Montreal Can now owns 3,081 shares of the company’s stock valued at $146,000 after buying an additional 535 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Ingles Markets by 43.6% during the 4th quarter. Citigroup Inc. now owns 3,600 shares of the company’s stock valued at $171,000 after buying an additional 1,093 shares during the last quarter. Institutional investors own 66.10% of the company’s stock.

About Ingles Markets

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.

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