Zacks: Ingles Markets, Incorporated (IMKTA) Given Average Rating of “Strong Buy” by Brokerages

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Ingles Markets, Incorporated (NASDAQ:IMKTA) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Zacks has also given Ingles Markets an industry rank of 191 out of 255 based on the ratings given to related companies.

IMKTA has been the topic of several recent analyst reports. ValuEngine raised Ingles Markets from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 31st. BidaskClub raised Ingles Markets from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Finally, Zacks Investment Research raised Ingles Markets from a “sell” rating to a “hold” rating in a research report on Monday, September 3rd.

Ingles Markets stock opened at $34.10 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.50 and a current ratio of 1.96. Ingles Markets has a one year low of $22.70 and a one year high of $37.65. The firm has a market cap of $628.03 million, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.03 and a beta of 0.39.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.91 EPS for the quarter. Ingles Markets had a return on equity of 16.76% and a net margin of 2.38%. The company had revenue of $1.03 billion for the quarter. As a group, equities analysts anticipate that Ingles Markets will post 2.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Thursday, October 11th were given a $0.165 dividend. The ex-dividend date was Wednesday, October 10th. This represents a $0.66 annualized dividend and a yield of 1.94%. Ingles Markets’s payout ratio is 24.81%.

In other Ingles Markets news, Director Sharp Laura Ingle sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $36.00, for a total value of $90,000.00. Following the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at $1,080,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlueMountain Capital Management LLC bought a new position in shares of Ingles Markets in the second quarter worth about $101,000. First Trust Advisors LP bought a new position in shares of Ingles Markets in the third quarter worth about $735,000. Strs Ohio raised its stake in shares of Ingles Markets by 19.8% in the second quarter. Strs Ohio now owns 26,000 shares of the company’s stock worth $826,000 after buying an additional 4,300 shares during the period. New York State Common Retirement Fund raised its stake in Ingles Markets by 87.5% during the 1st quarter. New York State Common Retirement Fund now owns 29,623 shares of the company’s stock valued at $1,003,000 after purchasing an additional 13,823 shares during the period. Finally, Aperio Group LLC raised its stake in Ingles Markets by 7.8% during the 2nd quarter. Aperio Group LLC now owns 32,476 shares of the company’s stock valued at $1,033,000 after purchasing an additional 2,346 shares during the period. 63.67% of the stock is currently owned by hedge funds and other institutional investors.

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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