Ingles Markets (NASDAQ:IMKTA) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Monday, BidAskClub reports.
Several other research firms have also recently issued reports on IMKTA. Zacks Investment Research raised shares of Ingles Markets from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, May 15th. TheStreet upgraded shares of Ingles Markets from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Finally, ValuEngine lowered shares of Ingles Markets from a “sell” rating to a “strong sell” rating in a report on Friday, March 15th.
IMKTA stock opened at $31.00 on Monday. The stock has a market cap of $623.40 million, a P/E ratio of 6.44, a PEG ratio of 1.10 and a beta of 0.47. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.94 and a quick ratio of 0.46. Ingles Markets has a 12 month low of $25.57 and a 12 month high of $37.65.
Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.74 earnings per share (EPS) for the quarter. The company had revenue of $1 billion during the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 12.26%. As a group, research analysts expect that Ingles Markets will post 3.4 earnings per share for the current year.
In other news, Director Sharp Laura Ingle sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $27.39, for a total value of $68,475.00. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at approximately $684,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 29.30% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Capital Investment Advisory Services LLC acquired a new position in Ingles Markets during the 4th quarter valued at approximately $27,000. Investors Research Corp acquired a new position in shares of Ingles Markets in the 1st quarter valued at $30,000. New York State Teachers Retirement System acquired a new position in shares of Ingles Markets in the 4th quarter valued at $33,000. Bank of Montreal Can increased its holdings in shares of Ingles Markets by 50.3% in the 4th quarter. Bank of Montreal Can now owns 2,162 shares of the company’s stock valued at $58,000 after acquiring an additional 724 shares during the period. Finally, Legal & General Group Plc increased its stake in Ingles Markets by 32.9% in the 4th quarter. Legal & General Group Plc now owns 2,720 shares of the company’s stock valued at $74,000 after buying an additional 674 shares during the period. Institutional investors and hedge funds own 62.58% 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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