Ingles Markets, Incorporated (IMKTA) Receives Consensus Rating of “Strong Buy” from Brokerages

Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Zacks has also assigned Ingles Markets an industry rank of 101 out of 265 based on the ratings given to related companies.

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Several equities research analysts have recently issued reports on IMKTA shares. TheStreet raised Ingles Markets from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. BidaskClub raised Ingles Markets from a “hold” rating to a “buy” rating in a research report on Tuesday, March 6th. Finally, Zacks Investment Research raised Ingles Markets from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, February 14th.

Institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new position in shares of Ingles Markets in the fourth quarter valued at approximately $214,000. Raymond James & Associates bought a new position in shares of Ingles Markets in the fourth quarter valued at approximately $251,000. Virginia Retirement Systems ET AL raised its stake in shares of Ingles Markets by 42.0% in the third quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the company’s stock valued at $252,000 after acquiring an additional 2,900 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Ingles Markets in the fourth quarter valued at approximately $284,000. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Ingles Markets in the fourth quarter valued at approximately $470,000. Hedge funds and other institutional investors own 60.03% of the company’s stock.

Ingles Markets stock traded up $0.25 during mid-day trading on Thursday, hitting $35.25. 48,219 shares of the company’s stock were exchanged, compared to its average volume of 109,182. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 0.37. The company has a market capitalization of $685.77, a price-to-earnings ratio of 13.16, a PEG ratio of 3.59 and a beta of 0.57. Ingles Markets has a 1-year low of $20.75 and a 1-year high of $47.95.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Friday, February 9th. The company reported $2.23 EPS for the quarter. The firm had revenue of $1.01 billion for the quarter. Ingles Markets had a net margin of 2.11% and a return on equity of 16.66%. sell-side analysts anticipate that Ingles Markets will post 2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Thursday, April 12th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Wednesday, April 11th. Ingles Markets’s dividend payout ratio (DPR) is presently 24.81%.

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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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