Ingles Markets (NASDAQ:IMKTA) Shares Pass Above 50 Day Moving Average of $30.80

Ingles Markets, Incorporated (NASDAQ:IMKTA) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $30.80 and traded as high as $32.22. Ingles Markets shares last traded at $31.50, with a volume of 1,412 shares.

A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 30th. ValuEngine lowered shares of Ingles Markets from a “sell” rating to a “strong sell” rating in a research note on Friday, March 15th. Finally, Zacks Investment Research raised shares of Ingles Markets from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, May 15th.

The company has a market capitalization of $639.17 million, a PE ratio of 6.47, a price-to-earnings-growth ratio of 1.16 and a beta of 0.47. The company has a quick ratio of 0.46, a current ratio of 1.94 and a debt-to-equity ratio of 1.35. The business has a 50 day simple moving average of $30.86.

Ingles Markets (NASDAQ:IMKTA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.74 EPS for the quarter. Ingles Markets had a net margin of 1.93% and a return on equity of 12.26%. The firm had revenue of $1 billion for the quarter. As a group, equities analysts expect that Ingles Markets, Incorporated will post 3.4 EPS for the current year.

In other Ingles Markets news, Director Sharp Laura Ingle sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $32.01, for a total transaction of $160,050.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $640,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 29.50% of the company’s stock.

Hedge funds have recently modified their holdings of the company. First Trust Advisors LP raised its stake in Ingles Markets by 2.4% during the first quarter. First Trust Advisors LP now owns 26,086 shares of the company’s stock worth $720,000 after buying an additional 608 shares during the last quarter. Intrepid Capital Management Inc. bought a new position in Ingles Markets during the first quarter worth $1,023,000. O Shaughnessy Asset Management LLC raised its stake in Ingles Markets by 62.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 19,510 shares of the company’s stock worth $539,000 after buying an additional 7,514 shares during the last quarter. Baker Ellis Asset Management LLC raised its stake in Ingles Markets by 5.0% during the first quarter. Baker Ellis Asset Management LLC now owns 34,952 shares of the company’s stock worth $965,000 after buying an additional 1,650 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Ingles Markets by 291.5% during the first quarter. Acadian Asset Management LLC now owns 27,442 shares of the company’s stock worth $757,000 after buying an additional 20,433 shares during the last quarter. 62.58% of the stock is currently owned by institutional investors.

Ingles Markets Company Profile (NASDAQ:IMKTA)

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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