Zacks Downgrades Ingles Markets to Underperform (IMKTA)
Ingles Markets (NASDAQ:IMKTA) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, Analyst Ratings.Net reports. They currently have a $25.60 target price on the stock. Zacks‘ price target suggests a potential downside of 5.11% from the stock’s previous close.
Ingles Markets (NASDAQ:IMKTA) traded down 0.15% during mid-day trading on Wednesday, hitting $26.94. The stock had a trading volume of 40,532 shares. Ingles Markets has a one year low of $16.95 and a one year high of $29.33. The stock has a 50-day moving average of $26.07 and a 200-day moving average of $26.55. The company has a market cap of $613.1 million and a price-to-earnings ratio of 31.01.
Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.80 by $1.12. The company had revenue of $948.90 million for the quarter, compared to the consensus estimate of $993.90 million. During the same quarter in the prior year, the company posted $1.79 earnings per share. Analysts expect that Ingles Markets will post $2.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, January 23rd. Investors of record on Thursday, January 9th will be paid a dividend of 0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, January 7th.
Ingles Markets, Incorporated (NASDAQ:IMKTA) is a supermarket chain in the southeast United States.
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