Ingles Markets, Incorporated (IMKTA) Given Consensus Rating of “Strong Buy” by Brokerages
Ingles Markets, Incorporated (NASDAQ:IMKTA) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also given Ingles Markets an industry rank of 97 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised Ingles Markets from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th.
In other Ingles Markets news, Director Sharp Laura Ingle sold 5,000 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $24.97, for a total value of $124,850.00. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at $62,425. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 30.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors acquired a new stake in shares of Ingles Markets in the second quarter valued at about $100,000. Victory Capital Management Inc. increased its stake in shares of Ingles Markets by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,805 shares of the company’s stock valued at $127,000 after buying an additional 572 shares during the period. Citigroup Inc. increased its stake in shares of Ingles Markets by 353.3% in the second quarter. Citigroup Inc. now owns 4,161 shares of the company’s stock valued at $138,000 after buying an additional 3,243 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Ingles Markets during the second quarter worth approximately $209,000. Finally, Sei Investments Co. acquired a new stake in Ingles Markets during the second quarter worth approximately $225,000. 59.40% of the stock is owned by institutional investors.
Shares of Ingles Markets (NASDAQ:IMKTA) traded up $0.75 during trading on Friday, hitting $31.30. The stock had a trading volume of 185,840 shares, compared to its average volume of 98,991. Ingles Markets has a one year low of $20.75 and a one year high of $52.40. The company has a market cap of $634.11, a PE ratio of 11.77, a P/E/G ratio of 3.69 and a beta of 0.73. The company has a current ratio of 1.82, a quick ratio of 0.31 and a debt-to-equity ratio of 1.69.
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About Ingles Markets
Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.
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