Ingles Markets (NASDAQ:IMKTA) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday, BidAskClub reports.

Separately, Zacks Investment Research lowered shares of Ingles Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th.

Shares of Ingles Markets stock traded down $0.76 during trading on Wednesday, hitting $43.43. The company’s stock had a trading volume of 1,725 shares, compared to its average volume of 69,654. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.50 and a current ratio of 2.01. The company has a fifty day simple moving average of $45.59 and a two-hundred day simple moving average of $39.91. The company has a market capitalization of $893.63 million, a PE ratio of 10.76, a P/E/G ratio of 1.01 and a beta of 0.44. Ingles Markets has a 52 week low of $25.57 and a 52 week high of $49.14.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $1.04 earnings per share (EPS) for the quarter. The company had revenue of $1.08 billion during the quarter. Ingles Markets had a net margin of 1.94% and a return on equity of 12.80%. As a group, analysts predict that Ingles Markets will post 4.3 EPS for the current year.

In other Ingles Markets news, Director Sharp Laura Ingle sold 2,500 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $47.44, for a total transaction of $118,600.00. Following the completion of the sale, the director now directly owns 32,500 shares in the company, valued at approximately $1,541,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.50% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in IMKTA. Northwest Investment Counselors LLC bought a new stake in shares of Ingles Markets in the third quarter worth approximately $40,000. Bank of Montreal Can grew its stake in shares of Ingles Markets by 86.1% in the second quarter. Bank of Montreal Can now owns 2,484 shares of the company’s stock worth $77,000 after acquiring an additional 1,149 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ingles Markets by 21.9% in the second quarter. JPMorgan Chase & Co. now owns 6,244 shares of the company’s stock worth $197,000 after acquiring an additional 1,123 shares during the period. UBS Asset Management Americas Inc. bought a new stake in shares of Ingles Markets in the second quarter worth approximately $205,000. Finally, Alberta Investment Management Corp bought a new stake in shares of Ingles Markets in the second quarter worth approximately $212,000. Hedge funds and other institutional investors own 66.11% of the company’s stock.

About Ingles Markets

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.

Further Reading: Cash Flow

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