Ingles Markets (IMKTA) Downgraded to Hold at BidaskClub
BidaskClub cut shares of Ingles Markets (NASDAQ:IMKTA) from a buy rating to a hold rating in a research note published on Tuesday.
A number of other research firms have also weighed in on IMKTA. Zacks Investment Research lowered shares of Ingles Markets from a hold rating to a sell rating in a research report on Wednesday, August 15th. ValuEngine raised shares of Ingles Markets from a strong sell rating to a sell rating in a research report on Tuesday, July 31st.
IMKTA stock opened at $33.70 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.96 and a quick ratio of 0.50. Ingles Markets has a 1 year low of $22.63 and a 1 year high of $37.65. The firm has a market capitalization of $688.81 million, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 1.25 and a beta of 0.44.
In other Ingles Markets news, Director Sharp Laura Ingle sold 2,500 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $36.00, for a total transaction of $90,000.00. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $1,080,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 29.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. BlueMountain Capital Management LLC bought a new position in shares of Ingles Markets during the 2nd quarter worth about $101,000. Citigroup Inc. increased its holdings in shares of Ingles Markets by 73.4% during the 1st quarter. Citigroup Inc. now owns 4,758 shares of the company’s stock worth $161,000 after purchasing an additional 2,014 shares during the period. Victory Capital Management Inc. bought a new position in shares of Ingles Markets during the 1st quarter worth about $497,000. Strs Ohio increased its holdings in shares of Ingles Markets by 19.8% during the 2nd quarter. Strs Ohio now owns 26,000 shares of the company’s stock worth $826,000 after purchasing an additional 4,300 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of 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 worth $1,003,000 after purchasing an additional 13,823 shares during the period. Institutional investors own 63.86% of the company’s stock.
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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