Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus target price of $65.00 for the company, according to Zacks. Zacks has also given Ingles Markets an industry rank of 184 out of 257 based on the ratings given to its competitors.
A number of analysts have weighed in on the company. BidaskClub upgraded Ingles Markets from a “hold” rating to a “buy” rating in a report on Friday, August 24th. Zacks Investment Research upgraded Ingles Markets from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th.
Shares of NASDAQ:IMKTA opened at $29.43 on Friday. The firm has a market cap of $596.22 million, a P/E ratio of 6.12, a P/E/G ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.91 and a quick ratio of 0.50. Ingles Markets has a 12-month low of $26.51 and a 12-month high of $37.65.
Ingles Markets (NASDAQ:IMKTA) last announced its earnings results on Friday, December 7th. The company reported $0.91 earnings per share (EPS) for the quarter. The business had revenue of $1.06 billion during the quarter. Ingles Markets had a return on equity of 15.98% and a net margin of 2.38%. Analysts expect that Ingles Markets will post 3.2 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of IMKTA. BlueMountain Capital Management LLC acquired a new stake in shares of Ingles Markets in the 2nd quarter valued at about $101,000. Commonwealth Bank of Australia acquired a new stake in shares of Ingles Markets in the 3rd quarter valued at about $164,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Ingles Markets in the 3rd quarter valued at about $227,000. Virtu Financial LLC acquired a new stake in shares of Ingles Markets in the 3rd quarter valued at about $235,000. Finally, MetLife Investment Advisors LLC grew its stake in shares of Ingles Markets by 57.8% in the 3rd quarter. MetLife Investment Advisors LLC now owns 9,741 shares of the company’s stock valued at $334,000 after buying an additional 3,568 shares during the period. Hedge funds and other institutional investors own 63.85% 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.
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