BidaskClub Downgrades Ingles (IMKTA) to Sell

Ingles (NASDAQ:IMKTA) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts have also recently issued reports on IMKTA. TheStreet cut shares of Ingles from a “b-” rating to a “c+” rating in a research note on Friday, May 11th. Zacks Investment Research cut shares of Ingles from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th.

Ingles opened at $29.95 on Wednesday, Marketbeat reports. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.81 and a quick ratio of 0.38. Ingles has a one year low of $28.55 and a one year high of $29.25. The company has a market capitalization of $578.39 million, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.03 and a beta of 0.58.

Hedge funds and other institutional investors have recently modified their holdings of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Ingles in the 4th quarter worth $284,000. Schwab Charles Investment Management Inc. raised its holdings in Ingles by 13.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 216,520 shares of the company’s stock worth $7,492,000 after purchasing an additional 25,242 shares in the last quarter. California Public Employees Retirement System raised its holdings in Ingles by 22.0% in the 3rd quarter. California Public Employees Retirement System now owns 46,352 shares of the company’s stock worth $1,191,000 after purchasing an additional 8,352 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Ingles by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,184,752 shares of the company’s stock worth $30,448,000 after purchasing an additional 3,984 shares in the last quarter. Finally, Stone Ridge Asset Management LLC bought a new position in Ingles in the 4th quarter worth $470,000. Institutional investors and hedge funds own 61.24% of the company’s stock.

About Ingles

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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