BidaskClub Downgrades Ingles Markets (NASDAQ:IMKTA) to Buy

Share on StockTwits

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 analysts also recently issued reports on the stock. ValuEngine raised shares of Ingles Markets from a strong sell rating to a sell rating in a report on Tuesday, July 9th. Zacks Investment Research raised shares of Ingles Markets from a hold rating to a strong-buy rating and set a $39.00 price target for the company in a report on Wednesday, August 14th.

NASDAQ IMKTA opened at $39.36 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 2.06 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $812.79 million, a P/E ratio of 10.29, a P/E/G ratio of 0.71 and a beta of 0.37. Ingles Markets has a 12-month low of $25.57 and a 12-month high of $43.65. The firm has a 50-day moving average price of $37.02 and a two-hundred day moving average price of $31.57.

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

In other news, Director Sharp Laura Ingle sold 1,288 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.05, for a total transaction of $51,584.40. Following the completion of the sale, the director now owns 13,712 shares of the company’s stock, valued at approximately $549,165.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 11,288 shares of company stock valued at $412,084. 29.50% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Virginia Retirement Systems ET AL acquired a new position in Ingles Markets during the 2nd quarter worth approximately $327,000. James Investment Research Inc. increased its position in Ingles Markets by 64.9% during the 2nd quarter. James Investment Research Inc. now owns 33,375 shares of the company’s stock worth $1,039,000 after purchasing an additional 13,135 shares in the last quarter. Janus Henderson Group PLC increased its position in Ingles Markets by 67.3% during the 2nd quarter. Janus Henderson Group PLC now owns 887,453 shares of the company’s stock worth $27,626,000 after purchasing an additional 356,987 shares in the last quarter. Denali Advisors LLC increased its position in Ingles Markets by 202.4% during the 2nd quarter. Denali Advisors LLC now owns 26,963 shares of the company’s stock worth $839,000 after purchasing an additional 18,047 shares in the last quarter. Finally, Aperio Group LLC increased its position in Ingles Markets by 53.9% during the 2nd quarter. Aperio Group LLC now owns 41,570 shares of the company’s stock worth $1,294,000 after purchasing an additional 14,552 shares in the last quarter. Institutional investors and hedge funds own 65.03% 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.

Read More: How to Calculate Compound Annual Growth Rate (CAGR)

Receive News & Ratings for Ingles Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingles Markets and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.