Ingles Markets, Incorporated (NASDAQ:IMKTA) Given Consensus Recommendation of “Strong Buy” by Analysts

Shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Analysts have set a twelve-month consensus price objective of $67.00 for the company, according to Zacks. Zacks has also given Ingles Markets an industry rank of 180 out of 255 based on the ratings given to its competitors.

IMKTA has been the topic of a number of analyst reports. BidaskClub raised Ingles Markets from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research downgraded Ingles Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th.

NASDAQ:IMKTA traded up $0.52 on Tuesday, reaching $43.57. The stock had a trading volume of 63,105 shares, compared to its average volume of 67,809. The company has a 50-day moving average of $42.01 and a 200 day moving average of $36.39. The company has a current ratio of 2.06, a quick ratio of 0.47 and a debt-to-equity ratio of 1.30. The stock has a market cap of $872.15 million, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.70 and a beta of 0.36. Ingles Markets has a 12-month low of $25.57 and a 12-month high of $45.16.

In other Ingles Markets news, Director Sharp Laura Ingle sold 5,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $41.04, for a total transaction of $205,200.00. Following the transaction, the director now directly owns 13,712 shares in the company, valued at approximately $562,740.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 29.50% of the company’s stock.

A number of large investors have recently bought and sold shares of IMKTA. California State Teachers Retirement System lifted its holdings in Ingles Markets by 1.3% during the 3rd quarter. California State Teachers Retirement System now owns 22,047 shares of the company’s stock worth $857,000 after buying an additional 293 shares during the last quarter. First Trust Advisors LP raised its position in shares of Ingles Markets by 2.4% during the 1st quarter. First Trust Advisors LP now owns 26,086 shares of the company’s stock valued at $720,000 after acquiring an additional 608 shares in the last quarter. FCA Corp TX lifted its stake in Ingles Markets by 0.9% during the second quarter. FCA Corp TX now owns 87,029 shares of the company’s stock worth $2,709,000 after purchasing an additional 750 shares during the last quarter. James Investment Research Inc. lifted its stake in Ingles Markets by 2.3% during the third quarter. James Investment Research Inc. now owns 34,145 shares of the company’s stock worth $1,327,000 after purchasing an additional 770 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Ingles Markets in the second quarter worth $30,000. Institutional investors and hedge funds 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.

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