Ingles Markets (NASDAQ:IMKTA) Hits New 52-Week High – Still a Buy?

Ingles Markets, Incorporated (NASDAQ:IMKTA)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $90.83 and last traded at $90.7980, with a volume of 22431 shares changing hands. The stock had previously closed at $89.00.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Ingles Markets in a research report on Monday, December 29th. Wall Street Zen upgraded Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Ingles Markets Stock Up 1.0%

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.36 and a quick ratio of 1.69. The business’s fifty day moving average price is $83.11 and its two-hundred day moving average price is $75.79. The stock has a market capitalization of $1.71 billion, a PE ratio of 17.91 and a beta of 0.74.

Ingles Markets (NASDAQ:IMKTA) last issued its earnings results on Thursday, February 5th. The company reported $1.48 earnings per share (EPS) for the quarter. The company had revenue of $1.37 billion during the quarter. Ingles Markets had a return on equity of 5.93% and a net margin of 1.76%.

Institutional Investors Weigh In On Ingles Markets

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in Ingles Markets in the third quarter valued at approximately $38,000. Highlander Partners L.P. purchased a new position in Ingles Markets during the 4th quarter worth approximately $45,000. Eastern Bank acquired a new stake in Ingles Markets during the 4th quarter valued at approximately $48,000. Torren Management LLC acquired a new stake in Ingles Markets during the 4th quarter valued at approximately $51,000. Finally, Huntington National Bank boosted its holdings in shares of Ingles Markets by 63.1% in the 4th quarter. Huntington National Bank now owns 778 shares of the company’s stock valued at $53,000 after acquiring an additional 301 shares during the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

Ingles Markets Company Profile

Ingles Markets, Inc (NASDAQ: IMKTA) is a family‐owned regional supermarket chain headquartered in Asheville, North Carolina. Since its founding in 1963 by Robert P. Ingle Sr., the company has grown to serve communities across the southeastern United States, including North Carolina, South Carolina, Georgia, Tennessee, Virginia and Alabama. Ingles Markets operates a full-service grocery platform, delivering a broad assortment of fresh produce, meat and seafood, bakery items, deli offerings and dairy products alongside pantry staples and household essentials.

In addition to traditional grocery departments, Ingles Markets provides in-store pharmacy services and fuel centers at many of its locations.